JOHANNESBURG - Telkom has confirmed it's received an offer from data-driven firm Rain proposing that Telkom buy it in exchange for shares.
Telkom says its board is still considering the proposal which it received two weeks ago - and is not yet in a position to express a view on it.
In August, Rain released a statement saying it had made an offer to Telkom over a potential merger.
It was forced to retract the statement after the Takeover Regulation Panel said the announcement was irregular.
Rain believes that a merger with Telkom could create a strong third mobile network operator and “5G powerhouse” in South Africa.