Telkom South Africa recently disclosed some updates on the company’s situation on its merger with Rain and the subsequent selling of its subsidiary, Openserve.
Currently from Rain we have received a proposal, there is no firm binding documents. The teams have been engaging to try to understand what the potential synergies or opportunities for growth are across these two organizations. So, at this point in time it’s all informal conversations. We have set ourselves a target by the end of December to be at a go or no-go position.
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With MTN as we indicated, the talks were stalled. However, the strategic imperative and rationale behind the MTN and Telkom partnership still remains intact. We will be open to continue conversations further, if MTN comes back.
Serame Taukobong, CEO, Telkom Group
On the topic of selling its network infrastructure subsidiary, Openserve, Serame Taukobong said that it is completely out of consideration.
It is a core asset for us. We are definitely not considering selling a majority of Openserve.
Serame Taukobong, CEO, Telkom Group
