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TKG
TKG
TKG - Telkom SA Limited - Renewal of cautionary announcement
Telkom SA Limited
(Registration number 1991/005476/06)
JSE share code TKG
ISIN ZAE000044897
("Telkom" or the "Company")
RENEWAL OF CAUTIONARY ANNOUNCEMENT
Shareholders are referred to the cautionary announcements dated 14
October 2011, 21 November 2011, 12 December 2011 and 27 January 2012
regarding a potential strategic venture ("Potential Strategic Venture")
between Telkom and KT Corporation (collectively "the Companies").
On 27 January 2012 shareholders were advised that the investigation by
the Companies into the areas of mutual strategic and business cooperation
and envisaged benefits of the Potential Strategic Venture ("Diagnostic
Review") was well progressed.
Shareholders are hereby advised that the Diagnostic Review has now been
substantially completed. The Companies are cooperating to harmonise their
respective findings and agree the terms of the Potential Strategic
Venture. Discussions continue to be positive and collaborative with both
Companies seeking to conclude a mutually beneficial transaction as soon
as possible. As shareholders were previously advised, once the Diagnostic
Review has been finalised and the terms of the Proposed Strategic Venture
agreed, the Companies will present the proposed transaction to their
respective boards of directors for approval before finalising the
transaction agreements, engaging with key stakeholders and presenting the
terms of the Proposed Strategic Venture to Telkom shareholders for
approval.
Shareholders are once again advised that whilst discussions regarding the
Potential Strategic Venture are ongoing, there is still no certainty that
a formal transaction will be proposed or concluded. Accordingly,
shareholders are advised to continue exercising caution when trading in
the Company`s securities until a further announcement is made.
For enquiries
Telkom: Robin Coode (Investor Relations)
Tel: +27 (0)12 311 6081
Pynee Chetty (Media)
Tel: +27 (0)12 311 5247
Pretoria
09 March 2012
Lead financial advisor and transaction sponsor to Telkom
Deutsche Bank
Sponsor to Telkom
UBS South Africa (Pty) Ltd
Date: 09/03/2012 09:35:01 Produced by the JSE SENS Department.
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