South Africa: Telkom increases its offer to Cell C

Mergers, Acquisitions and Financial Results

South African fixed line provider Telkom has reportedly increased its offer for smaller wireless operator Cell C, which is 75%-owned by Dubai-based Oger Telecom, MyBroadband reports.

Earlier this month Telkom COO Brian Armstrong confirmed that there have been discussions between the two operators, though some media reports claimed that the ‘potential takeover of Cell C by Telkom was stalling over price’ as Telkom was prepared to pay only ZAR18 billion (USD1.38 billion) for the business (markedly less than Cell C’s ZAR22 billion valuation).

Source: Telegeography 19 October 2015