MTN Group Ends Talks on Telkom SA SOC Takeover -- Update
October 19 2022 - 6:22AM
Dow Jones News
By Kyle Morris
Telkom SA SOC Ltd. said Wednesday that MTN Group Ltd. has ended
talks on a deal for a takeover as Telkom wasn't in a position to
provide assurances around exclusivity.
South Africa-based telecommunications group MTN Group later
confirmed that discussions had ended.
"After extensive engagements and deliberations between the
parties, shareholders are advised that the discussions regarding
the Proposed Transaction have terminated, as the parties were
unable to reach agreement to their mutual satisfaction on the
process going forward," MTN Group said.
On July 15, MTN Group said it was in discussions to buy its peer
Telkom SA SOC Ltd.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
October 19, 2022 06:07 ET (10:07 GMT)
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