$1bn

TELKOM TO BUY CELL C?

Finweek English Edition - - IN BRIEF -

Telkom is mulling a bid of as much as $1bn for Cell C, which has missed debt pay­ments and is try­ing to com­plete a re­cap­i­tal­i­sa­tion, Bloomberg re­ported. Pre­vi­ous talks failed in 2015 af­ter the parties couldn’t agree on a price. Blue La­bel Tele­coms agreed to buy a 45% stake in Cell C last year, but the deal, with a dead­line of 28 Fe­bru­ary, is yet to be com­pleted. “This will be a good deal for Telkom and its mo­bile busi­ness, but it has to be at the right price,” Mer­gence In­vest­ment Man­agers’ Peter Takaen­desa said.

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