Bloomberg News

Vox Gains Most in 2 Years After Takeover Offer

July 14, 2011

(Corrects share price in second paragraph.)

July 14 (Bloomberg) -- Vox Telecom Ltd. gained the most in more than two years after receiving a takeover offer from a group of investors that includes Lereko Metier Investment Holdings Ltd. and Investec Ltd.

The stock jumped 5 cents, or 13.5 percent, the biggest one-day gain since April 2, 2009, to 42 cents, where it was trading as of 4:14 p.m. in Johannesburg. Vox shareholders were offered 45 cents a share or 1 share in the new company formed after the takeover for every 10 Vox securities held or a combination of the two.

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To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net


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