JOHANNESBURG, Nov 16 (Reuters) - South African fixed-line phone company Telkom is yet to make an offer for smaller rival Cell C, its chief executive said on Monday, denying a report the company has had a $972 million offer rejected.
“I haven’t had any offer rejected because I haven’t made one,” Sipho Maseko told Reuters. “I expressed an interest and I asked for a due diligence. Based on the outcome of the due diligence, I will then be able to make an offer.”
Bloomberg reported on Oct. 29 that Oger Telecom has rejected Telkom’s 14 billion rand ($972.13 million) offer for its 75 percent stake in South Africa’s No.3 wireless phone operator. (Reporting by Tiisetso Motsoeneng; Editing by Joe Brock)