Cell C rejects takeover bid by Telkom.

Cell C, a mobile network service provider in South Africa, rejects the takeover bid by Telkom, a semi private network service provider. Financial terms were not disclosed. “Telkom has received written notice from the Cell C board of directors rejecting its non-binding proposal. The Telkom Board continues to believe the offer is a compelling proposition that would have created significant value for all stakeholders including Telkom’s shareholders,” Telkom