Telkom and MTN are still locked in talks around MTN’s acquisition of the state-owned Telkom.

Although no new details are available, the discussions related to MTN acquiring the entire issued share capital of Telkom in return for shares or a combination of cash and shares in MTN.
Since news of the proposed takeover broke on 15 July 2022, Telkom has received a number of other approaches, none of which is likely to bear fruit.

Local investment firm Toto Consortium’s $433-million bid for government’s 40,5% shareholding in Telkom was rebuffed as government currently as no plans to sell its stake in the telco.
Rain also announced that it has put in an offer, a statement it was forced to retract.