Several companies have reportedly expressed interested in buying South Africa’s third largest mobile operator, Cell C, with recent reports suggesting up to six different interested parties.
Telkom is now said to be conducting a due diligence on Cell C before deciding whether to come back with a higher offer. Dubai based Oger is reportedly seeking R22 billion, and has set late November as the deadline for a new offer from Telkom.
Telkom CEO, Sipho Maseko, was quoted in August saying that, at the right price, the company would consider an offer to buy Cell C.
“I’d like to do something with them. At the right price, I’m a buyer,” Maseko was quoted as having said. He also said Telkom had a strong balance sheet, giving it the “flexibility to pursue … options”.
Telkom is a comparatively small mobile player in South Africa and is looking to grow in the space to offset declining sales in its fixed line business.