TKG
TKG
TKG - Telkom`s proposed BCX acquisition
Telkom SA Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/005476/06)
Share code: TKG ISIN: ZAE000044897
("Telkom")
Telkom`s proposed acquisition of Business Connexion Group Limited
The Competition Tribunal ruled on 28 June 2007 to prohibit the proposed
acquisition by Telkom of the entire issued share capital of The Business
Connexion Group Limited ("BCX").
Telkom embarked on the acquisition to diversify its revenues and strengthen its
ability to provide full-service solutions and products in anticipation of future
market needs. It is therefore disappointed with the ruling, but Telkom will
continue to explore opportunities in areas such as fixed-mobile and converged
services. Telkom is confident that its strategies will enable the Company to
provide the full spectrum of ICT solutions, and sustain long-term value
creation.
Telkom is still awaiting the Tribunal`s reasons and considering its options in
relation to the Tribunal decision.
29 June 2007
Pretoria
Sponsor: UBS South Africa (Pty) Ltd
Date: 29/06/2007 16:07:06 Produced by the JSE SENS Department.
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