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Global turmoil scuppers Telkom talks

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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.