BCX bidder withdraws

By Iain Scott, ITWeb group consulting editor

Johannesburg, 16 May 2006

Business Connexion (BCX) this afternoon withdrew its cautionary notice related to an expression of interest in making a bid for the group.

The group says in a statement that the second potential bidder has withdrawn its expression of interest in acquiring BCX.

This leaves Telkom as the only remaining potential bidder for the company.

Last month, Telkom lodged a firm intention to make an offer of an effective R9.25 per share for the entire issued share capital of BCX.

CEO Peter Watt and deputy CEO Benjamin Mophatlane were in a meeting, while financial director Alan Farthing could not be reached for comment at the time of publication.

The identity of the second potential bidder has not been disclosed, but a source within BCX recently told ITWeb the party could be up to "mischief" in an attempt to take a peek at the group`s trade secrets.