Johannesburg — TELKOM's R2,4bn bid for Business Connexion is under threat after an unknown rival launched a potential counteroffer -- with all the indications pointing at a foreign company looking to buy into the South African market.
Business Connexion shares rose 5,8% to R8,75 on Friday after it issued a notice saying it was considering an expression of interest from another potential bidder. No value was disclosed and the deal was "subject to numerous conditions precedent", the company said.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article