MTN Group in Talks to Buy South Africa's Telkom
July 15 2022 - 4:18AM
Dow Jones News
By Sabela Ojea
MTN Group Ltd. said Friday that it is in discussions to buy
Telkom SA SOC Ltd. via a stake in the company or a combination of
cash and shares.
The South Africa-based telecommunications group said that talks
with Telkom, which is also based in South Africa, were at an early
stage and there was no certainty that the merger will end up taking
place.
"The transaction, if concluded, may have a material effect on
the price of the company's securities. Accordingly, shareholders
are advised to exercise caution when dealing in the company's
securities until a further announcement is made," MTN said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
July 15, 2022 04:03 ET (08:03 GMT)
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