Telkom Says Has Received Approaches, But Isn't in New Talks

JOHANNESBURG -(Dow Jones)- Telkom SA, South Africa's dominant fixed-line phone operator, Friday said it has received a number of approaches from companies interested in "one or more components" of its business, but it isn't in discussions it hasn't already disclosed.

"Telkom will release an appropriate announcement if at any stage it enters into discussions in respect of any expressions of interest," the company said in a statement to the Johannesburg securities exchange.

The Pretoria-based company Tuesday reiterated that its board was in discussions with two parties that could ultimately see it broken up and sold.

It in early June first confirmed England's Vodafone Group had offered to take control of their mobile phone venture, Vodacom Group, on condition the remaining stake in Vodacom be spun off to shareholders. At the same time it said it had separately been approached by a consortium led by unlisted Mvelaphanda Holdings with an offer to buy Telkom, less its 50% stake in Vodacom.

-By Robb M. Stewart, Dow Jones Newswires; +27 11 783 7848; robb.stewart@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 29th August 2008