South Africa: Telkom Faces Rival in Bid for Business Connexion

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 publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.