MTN Group in buyout talks with rival Telkom SA

The companies say there is no certainty the transaction will be consummated.
Image: Freddy Mavunda

SA's biggest telecoms operator, MTN Group Ltd, said on Friday it is in buyout talks with smaller rival Telkom SA for a stock or cash-and-stock deal.

"Discussions are at an early stage and there is no certainty that the transaction will be consummated," the companies said.