Dimension Data and Telkom this morning indicated that reports about a possible move by the telecommunications giant to take over the IT company are premature.
Several morning papers carried stories that Telkom CEO Papi Molotsane had hinted at a potential takeover bid of DiData, but a Telkom spokesperson has denied this.
The spokesperson says Telkom is not talking to DiData, but confirms the fact that Telkom is seeking an IT company to acquire.
She says DiData is currently not considered an official takeover target.
"The fact that we are looking for an IT company is not new. What Papi was saying is that there are a number of options. We are looking at possibilities but there are no fixed arrangements right now. DiData is not being considered."
The spokesperson also points out that Molotsane is not responsible for acquisitions, but concedes that he may have met with "someone at DiData shareholder-level", and there could have been an informal discussion.
"It`s premature to talk about it now. There are no official discussions; he`s spoken to some shareholders," she notes. "The critical point from our side is that we are interested in acquisition, but there is no official acquisition process that has started."
DiData communications manager Michelle Atkins states there is "no truth to these rumours".
"Dimension Data is not talking to Telkom," she says.
The DiData share closed at 544c on the JSE yesterday, up 21c from the previous close. It was trading at 563c late this morning. The Telkom share closed at R169 on the JSE yesterday, up by 3.14% from the previous close. It was trading down 1.48%, or 250c, late this morning.
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