Telkom Group has reached a major operational landmark, surpassing 25 million mobile subscribers for the first time.
According to a Bloomberg report, MTN Group is considering a return to negotiations to acquire its rival, Telkom.
African Rainbow Capital Investments (ARCI) values mobile network operator Rain at R25.91 billion, exceeding Telkom's R17.79 billion market cap.
Telkom shareholders have given the green light to the sale of its masts and towers business, Swiftnet, for R6.75 billion.
Telkom has announced it will retrench around 15 percent of its workforce as it suffers under current economic conditions.
After many months of talks, MTN has walked away from a possible merger with Telkom due to its flirting with the possibility of buying Rain itself.
MTN has responded to the potential Telkom takeover of Rain – could it scupper the high profile merger between MTN and Telkom?
MTN and Telkom have confirmed that MTN Group has entered into discussions to acquire Telkom, sending the latter’s share price much higher.
Telkom’s share price declined almost 9 percent on Tuesday after the company released its latest annual results.
Telkom is the latest large telecoms company to adjust its data prices downward to stay competitive, cutting the 1GB data bundle to R79.
In a newly published market update, Telkom has shown very strong growth in mobile customers in the nine month period to December 2020.
Telkom Pay is a new, digital wallet and payments service that the network intends to power through WhatsApp messages.
