Rain has withdrawn its announcement that it submitted a merger proposal to the Telkom board after a sternly-worded reprimand from the Takeover Regulation Panel.
“As Rain, we are pleased with Telkom’s SENS announcement stating that if an offer or formal proposal is received from Rain, the board of Telkom will consider it,” the company said.
“The Takeover Regulation Panel has noted, with grave concern, a press announcement issued by Rain proprietary limited regarding a potential offer to merge with Telkom on 11 August 2022,” it said in a statement to shareholders on the JSE news service . Rain, of which Patrice Motsepe’s African Rainbow Capital owns around a 20% stake, said a merger with Telkom would create a 5G powerhouse.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rain “engaging” regulator over order to retract Telkom merger statementRain has not withdrawn its statement of a proposed offer to merge with Telkom after the Takeover Regulation Panel reprimanded the company over its announcement.
Read more »
Vodacom, CIVH deal spooks market, opens Telkom raceThe prospects of a new mega fibre company on the back of fierce competition startled the market, opening the race for Telkom’s assets, say analysts.
Read more »
Telkom’s fight against Vodacom and MTNTelkom has been struggling to hold its own against Vodacom and MTN.
Read more »
Rain delay: T&Cs no excuse for lower video streaming speeds5G network provider rain rapped on the knuckles for misleading advertising offer
Read more »
How Fifi the Mommy Rabbit is showing me a thing or two about parentingAfter a few days of heavy rain in Cape Town, there are signs of new beginnings everywhere with Spring just a few weeks away. On Saturday morning, we woke to my excited daughter shouting through the house that there were baby bunnies in the rabbit hutch writes Gasant Abarder in a new SliceofGasant.
Read more »
Rain retracts Telkom merger offer announcementRain has withdrawn its announcement that it submitted a merger proposal to the Telkom board after a sternly-worded reprimand from the Takeover Regulation Panel.
Read more »