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Telkom said to mull purchase of Cell C debt in ownership bid

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Telkom. (Duncan Alfreds, Fin24)
Telkom. (Duncan Alfreds, Fin24)

Johannesburg - Telkom SA [JSE:TKG], the biggest SA fixed-line operator, is considering acquiring Cell C’s debt as it seeks to gain access to subscribers of the nation’s third-largest mobile-phone company.

Cell C creditors approached Telkom to help reorganise debt that includes €640m of bonds maturing in July 2018, said the people, who asked not to be identified because discussions are private.

Telkom, whose attempts to start talks were rejected by Cell C this week, is trying to gain access to the company’s financials ahead of a possible offer, one of the people said.

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