Telkom, Rain drop merger talks
JSE-listed Telkom on Wednesday announced that talks with data-only mobile operator Rain have been terminated.
In September, Telkom received a non-binding proposal from Rain proposing the potential acquisition of Rain by Telkom for newly issued shares in Telkom.
“After initial discussions, but prior to any due diligence, the parties have decided that a suitable transaction is not possible at this time,” Telkom said in an update to shareholders.
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