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TELKOM SA SOC LIMITED - Update on cautionary announcement

Release Date: 15/11/2019 10:19
Code(s): TKG TL24 TL25 TL28 TL20 TL26 TL22 TL23 TL30 TL31 TLC09 TLC08 TL27 TL29     PDF:  
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Update on cautionary announcement

Telkom SA SOC Limited
(Incorporated in the Republic of South Africa)
(Registration number 1991/005476/30)
JSE Share Code: TKG
JSE Bond Code: BITEL
ISIN: ZAE000044897
(“Telkom” or the “Company”)


Further to the cautionary announcement released by the Company on SENS on 12 November 2019,
shareholders are advised that Telkom is in discussions with Cell C Limited ("Cell C") regarding the
potential acquisition of Cell C ("Potential Acquisition").

Telkom has substantially concluded its due diligence, however discussions are at a preliminary stage.
The Potential Acquisition will be subject to Cell C completing a financial restructuring to ensure that
its gearing levels are reduced to a sustainable level as specified by Telkom and commercial contractual
relationships are renegotiated to terms acceptable to Telkom. The Potential Acquisition will be subject
to a number of regulatory approvals.

The Potential Acquisition, if concluded, may have a material effect on the price of the Company’s
securities. Accordingly, shareholders are advised to continue to exercise caution when dealing in the
Company’s securities until a further announcement is made.

15 November 2019


Sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited

Date: 15/11/2019 10:19:00
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