The Saudi Arabian company, Oger Telecom, which owns a majority stake in cellular network operator Cell C, is interested in buying part of Telkom.
Late last year, negotiations for MTN to buy Telkom's fixed line infrastructure broke down, also scuttling the possibility of Vodafone buying our Vodacom from the group.
Yesterday's offer from Oger is a non-binding expression of interest.
"While Telkom is not presently in discussions with Oger, the board of Telkom will consider the Oger approach along with other alternatives," Telkom says in a statement.
"As was stated in the company`s announcement on 28 November 2007, the company continues to review its mobile strategy and is pursuing all options to enhance the company`s strategic positioning and service delivery in the converging fixed-mobile telecommunications industry."