Axian said acquiring a controlling stake in Telkom will help it achieve its goal of becoming the fifth-largest mobile network operator in Africa.
Madagascan telecom firm Axian sees Telkom as the perfect acquisition target to help it meet its goal of becoming the fifth-largest mobile network operator in Africa in the next five years, the Sunday TimesThrough its partnership with former Telkom CEO Sipho Maseko, Axian is in talks to acquire a controlling stake in the partly state-owned South African telecom company.
“It’s either you enter through small players and study the market before making a big acquisition, or you enter with a big player,” the source said. Axian is trying to convince the South African government — which holds 40.5% of Telkom — to agree to cash in by significantly diluting its shareholding. PIC said it wouldn’t be drawn into speculation on the matter and added it would consider any proposal related to Telkom on its merit if it is supported by a credible business case and meets return expectations and the mandate requirements of the firm’s clients.to acquire a 35% stake in Telkom. The deal would see it team up with Maseko’s Afrifund and Axian.
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