Africa's Telkom Attracts Group of Buyers

The topsy-turvy world of telecom in Africa’s rapidly emerging market took another interesting turn as Africa’s largest fixed-line operator, Telkom SA Ltd., said it had been approached with an offer for its non-mobile business (it holds a 50 stake stake in Vodacom Group, which currently is being coveted by Vodafone, Telekom’s partner in the mobile carrier).

The potential buyers, African businessman Tokyo Sexwale's Mvelaphanda Holdings and New York's Och-Ziff Capital Management LLC, would have to win approval from the South African government, which holds a 38.9 percent stake in the former monopoly, the state Public Investment Corp., which owns 15.3 percent, and the Elephant Consortium, which owns 5.7 percent.

The African market has been hot of late; India's Bharti Airtel Ltd. last month dropped an attempt to merge with South African mobile operator MTN Group Ltd. after MTN decided to go after Bharti. MTN currently is in talks with India’s Reliance Communications Ltd.

For more:
- See the story in the New York Times

Related articles:
MTN, Reliance talk merger MTN report  
$50 billion Bharti Airtel/MTN deal bites the dust. See this Bharti Airtel, MTN story
MTN left with single bidder, Vodafone goes own direction. See this MTN report

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