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Global turmoil scuppers Telkom talks


Current market conditions and pricing considerations have been given as the reason for Telkom and the Mvelaphanda consortium suspending their negotiations.

According to statement from Telkom, the consortium – consisting of Mvelaphanda Holdings, affiliated funds of Och-Ziff Capital Management Group and other strategic funders – and Telkom have agreed to suspend discussions.
The talks centred around the consortium making a bid to buy Telkom's fixed line business, and have been underway since July.
However, discussions with Vodafone Group regarding the acquisition by Vodafone`s wholly-owned subsidiary of a portion of Telkom`s stake in Vodacom, and unbundling of the remainder, are still ongoing.