Bloomberg News

Telkom Rises for 4th Day; Helios Nigeria Unit to Buy Multi-Links

June 29, 2011

June 29 (Bloomberg) -- Telkom South Africa Ltd., the continent’s biggest fixed-line phone operator, climbed for a fourth day after saying it reached an agreement where an affiliate of Helios Towers Nigeria Ltd. will buy its unit in the West African nation.

The stock rallied 74 cents, or 2.1 percent, to 36.19 rand by 9:05 a.m. in Johannesburg.

The Helios unit will acquire full ownership and control of Telkom’s Multi-Links, it said in a statement after the market closed yesterday.

To contact the editor responsible for this story: Ana Monteiro at amonteiro4@bloomberg.net


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