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June 2, 2008

Mvela-led group makes R90bn bid for Telkom

THE South African telecoms industry is set to enter a period of dramatic restructuring today after an audacious, fully funded bid by an Mvelaphanda Holdings-led consortium for Telkom, which seems likely to value the company at about R90bn.

The bid comes on top of separate talks between MTN and India's second-biggest cellphone operator, Reliance Communications, which could see the combined group become a major force in emerging market telecommunications.

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Posted by StaffWriter at June 2, 2008 8:16 AM