Friday, 15 November 2019 11:05

Telkom has confirmed that it is in discussions with Cell C to acquire mobile network.

“Telkom has substantially concluded its due diligence, however, discussions are at a preliminary stage,” said Telkom in a statement.

“The Potential Acquisition will be subject to Cell C completing a financial restructuring to ensure that its gearing levels are reduced to a sustainable level as specified by Telkom and commercial contractual relationships are renegotiated to terms acceptable to Telkom.”

The mobile operator added that the potential acquisition will be subject to a number of regulatory approvals but did not provide further details.