"No MTN stake"

Telkom believes MTN is an attractive asset, but is not thinking seriously about buying a stake in the cellphone operator, Telkom said yesterday.

Telkom believes MTN is an attractive asset, but is not thinking seriously about buying a stake in the cellphone operator, Telkom said yesterday.

Nicola White, head of investor relations, said Telkom was looking at all possible acquisition targets as it tried to expand in Africa to offset sagging revenues in its fixed-line phone unit, and did not rule out a bid for MTN in the future.

White said Telkom was not looking at buying a stake in MTN, and was focusing on swaying Britain's Vodafone to allow its joint-owned Vodacom to expand into Africa.

Media has speculated that if Vodafone refuses, Telkom may sell its holding and buy a controlling stake in MTN. - Reuters

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