This line-up of stories will help you discover the latest happenings around the tech world, today
1. MTN to buy South African wireless telecommunications provider, Telkom
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Latest Nigeria News | Top Stories from Ripples Nigeria
TECHMTN to buy South African wireless telecommunications provider, Telkom. 2 other stories and a triviaPublished 1 week ago on July 15, 2022By Ripples Nigeria
This line-up of stories will help you discover the latest happenings around the tech world, today
1. MTN to buy South African wireless telecommunications provider, Telkom
Telecommunications giant, MTN Group Ltd., on Friday, announced plans to acquire domestic rival, Telkom SA SOC Ltd.
MTN’s announcement comes in a statement, noting that the deal will see the combination of South Africa’s second and third-largest telecommunications operators.
Ripples Nigeria understands that discussions are still budding and transactions between both parties are yet to be authenticated.
According to local media, the deal would make MTN pay for the partially state-owned company in shares or a combination of cash and stock.
“The transaction, if concluded, may have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a further announcement is made,” MTN said.
The acquisition is expected to help MTN bridge the gap behind the largest mobile operator Vodacom.