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South Africa’s Telkom takes second shot at IT firm BCX, offers $256 million

22
May
2014

By Helen Nyambura-Mwaura JOHANNESBURG (Reuters) – South African telecommunications company Telkom made a second stab at buying IT infrastructure firm Business Connexion with a 2.7 billion rand ($256 million) offer, seven years after competition concerns scuppered its first bid. Telkom, whose core business is providing fixed and mobile phone lines and data, has already begun the process of diversifying into information and communication technology services in common with many of its counterparts in other countries. Business Connexion (BCX) runs data centres and acquiring it would bulk up Telkom’s IT capacity. “This will form part of the (diversification) strategy to improve performance and restore profitability,” Telkom Chief Executive Sipho Maseko said in a statement.

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