Telkom did try to buy Cell C this week, but the network operator says it’s not up for sale and not interested in the offer.
Cell C chairman Mohammed Hariri put out a statement this morning in which he states that the firm has rejected a proposal from Telkom to purchase the business.
The network operator says that the offer to purchase was non-binding and unsolicited.
Cell C has said that the reason it has rejected this offer is because the firm has already committed to a recapitilasation transaction it has with Blue Label Telecoms Limited.
“Among other things, Cell C has undertaken to not enter into any agreement, incur any obligation or take any action which may restrict it or any of its affiliates from complying with its obligations under such agreements or which could result in the transactions envisaged in such agreements not proceeding to completion,” the operator said in a statement.
The decision to reject the offer was made after a board meeting held earlier this week.
The firm concluded by saying that it has every intention of complying with the obligations it has.