By Kyle Morris

Telkom SA SOC Ltd. said Wednesday that MTN Group Ltd. has ended talks on a deal for a takeover as Telkom wasn't in a position to provide assurances around exclusivity.

South Africa-based telecommunications group MTN Group later confirmed that discussions had ended.

"After extensive engagements and deliberations between the parties, shareholders are advised that the discussions regarding the Proposed Transaction have terminated, as the parties were unable to reach agreement to their mutual satisfaction on the process going forward," MTN Group said.

On July 15, MTN Group said it was in discussions to buy its peer Telkom SA SOC Ltd.

Write to Kyle Morris at kyle.morris@dowjones.com

(END) Dow Jones Newswires

October 19, 2022 06:07 ET (10:07 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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