S.Africa's Telkom says Cell C has rejected takeover offer

  • Reuters
  • Stock Market News
S.Africa's Telkom says Cell C has rejected takeover offer
Credit: © Reuters.

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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