Newly-listed Huge Group yesterday advised shareholders that it had entered negotiations which could have an effect on its share price.
The company - which listed on the JSE's Alternative Exchange earlier this month -announced this week that it had acquired least-cost routing company Centracell. Huge is also the owner of TelePassport.
This morning, James Herbst, the group's FD, said the cautionary related to another transaction in which it was on the buying side of the table.
In response to speculation that the company could be a takeover target, Herbst said no overtures had been made that he was aware of.
"With 45% of our shareholding in the market, we do run the risk of being a target - and an attractive one at that. However, none of our shareholders have indicated they have been approached and I would hope they would do so."
Since its listing on 8 August, the Huge Group has seen its share price dip from its first day close of R3.10. However, the share closed at R3.45 yesterday.
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