Despite media reports that a possible takeover is almost finalised with a South African consortium backed by Chinese money, Telkom would not reveal any details. R
The telecommunications company responded to an enquiry from TheMediaOnline by stating: “Telkom is still considering its options which include negotiations with a prospective buying consortium. No final agreements have been reached at this stage.”R
Telkom, which owns 66% of Telkom Media, made an announcement in April that it planned to reduce its share in the broadcaster. Since then, the company has been tight-lipped about potential investors.R
Spokesperson for Telkom Media Chris van Zyl says he has not been informed of details regarding the buy-outR
In the meantime, Van Zyl says Telkom Media has been busy with “various things. We have been focusing on streamlining our internal operations and bringing in new business.R
“Operational costs are being funded by Telkom, it is still the majority shareholder”.R
Telkom Media was awarded a licence, from the Independent Communications Authority of South Africa (ICASA) last year, which allows it to operate a commercial subscription television broadcasting licence.R
The broadcaster was issued with the licence in August 2008.