JOHANNESBURG, Nov 29 (Reuters) - South African telecoms company Telkom SA TKGJ.J said on Friday the board of its larger but troubled rival Cell C had rejected its takeover bid.
"The Telkom Board continues to believe the offer is a compelling proposition that would have created significant value for all stakeholders including Telkom's shareholders," the statement said.
Cell C is majority owned by Blue Label Telecoms BLUJ.J .
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