TELKOM TO BUY CELL C?
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.