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MTN Uganda Lists 22.4 Billion Shares & Commences Trading
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MTN’s Takeover Plans for Telkom Would Need the Government’s Support First
Sourced from Business Tech South Africa’s MTN Group, the largest telecom in Africa and 2nd largest in its home nation has reportedly made a pitch to buy SA’s third largest telecom, Telkom. According to an anonymous insider who spoke to Bloomberg, Telkom has shown no interest in being taken over by the MTN Group. It currently seems unclear if MTN will continue persuing the purchase of the semi-private telecom. “There is no deal on the table in relation to this matter,” MTN said in a statement after inquiries. Telkom itself has yet to comment on the reported offer. Telkom currently has a market valuation $1.94-billion, which pales in comparison to MTN’s valuation of $21-billion. A valuation that has steadily surged following a multi-year asset-disposal programme and a recent spike in the pri...
