Telkom confirms Cell C purchase talks
The telecoms firm says discussions are at a preliminary stage.
A statement released on Friday has confirmed Telkom’s active pursuit to purchase embattled Cell C.
Tech Central reported that Telkom is in the preliminary stage of discussions with Cell C to potentially acquire the mobile operator.
The statement also explained that purchasing Cell C would only occur after a financial restructuring, to ensure that it is at a “sustainable level” to negotiate terms “acceptable” to Telkom.
Cell C currently has a debt to the tune of over R8 billion.
It concluded by advising shareholders to “exercise caution” regarding Cell C’s securities until more announcements are made.
eNCA reports that Cell C and Telkom would result in a combined database of approximately 22 million subscribers.
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