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All quiet on Mvela-Telkom deal

8 July 2008
 All quiet on Mvela-Telkom deal
It has been just over a month since ANC heavyweight Tokyo Sexwale's Mvelaphanda Holdings (Mvela) made a R90 billion bid for the “total ownership of Telkom”.

At present, the only certainty is that Telkom's cautionary statement on the JSE's Stock Exchange News Service (SENS) that talks are in progress stands.

Telkom spokesman Piney Chetty reminds that cautionary notices lapse after six weeks, which should be 14 July in the Telkom-Mvela case. Chetty confirms talks are under way but could not comment further, saying any announcements would first have to be released via SENS.

Mvela is not commenting, but spokesman Chris Vick says it would be wrong to assume talks had collapsed. Mvela has for the last month declined to elaborate on its broader telecommunications strategy, with Vick suggesting it is still under development.

IDC telecoms analyst Richard Hurst says he would have expected Mvela to develop its strategy before making a bid for
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