Telkom has confirmed what the market has been speculating about for some time: that it is in talks to buy Cell C.
The company this morning issued a cautionary announcement, signalling its intention to acquire all of the shares of the cellular operator.
Telkom is currently performing due diligence on Cell C, according to the announcement.
This is the latest in a series of moves by Telkom to keep its business relevant and profitable. While moving to a new, more cost-efficient head office in Centurion, the company is also carrying out some high-profile staff retrenchment exercises.
Telkom recently complete the acquisition of Business Connexion, and give it access to broader IT skills and resources.
Meanwhile, Telkom’s group CEO Sipho Maseko recently committed to local loop unbundling, with 200 exchanges to be opened up on a trial basis.
More recently, Telkom spun out its wholesale and networks division as Openserve, separating the company’s consumer and wholesale business units.
Telkom aims to buy Cell C
