Telkom soars

Telkom shareholders had a rare opportunity to smile yesterday when the share price soared on the prospect of a buyout. The share spiked by 15percent at one point yesterday, but was later trading just under 10percent up. The company was valued yesterday at under R80billion. It is understood the buyout offer was at about R90billion. Telkom has confirmed it had received a letter from a consortium of Mvelaphanda, affiliated funds of Och-Ziff Capital Management and others who are considering buying out the company. - Marcia Klein

Telkom shareholders had a rare opportunity to smile yesterday when the share price soared on the prospect of a buyout. The share spiked by 15percent at one point yesterday, but was later trading just under 10percent up. The company was valued yesterday at under R80billion. It is understood the buyout offer was at about R90billion. Telkom has confirmed it had received a letter from a consortium of Mvelaphanda, affiliated funds of Och-Ziff Capital Management and others who are considering buying out the company. - Marcia Klein

X