Telkom, MTN potential tie-up no longer on

The proposed deal by MTN to buy Telkom has fallen through, Telkom said on Wednesday.

The two companies caused a stir in July when they announced they were in talks about a potential tie-up, which critics said would have created a duopoly. However, Telkom said the negotiations have since collapsed.

“MTN terminated discussions in relation to the MTN proposal on October 18 2022, as Telkom was not in a position to provide MTN with assurances around exclusivity,” Telkom said. In a separate statement, MTN confirmed that the negotiations had broken down.