Shareholders are referred to the cautionary announcements dated 14 October 2011, 21 November 2011, 12 December 2011, 27 January 2012, and 09 March 2012 regarding a potential strategic venture ("Potential Strategic Venture") between Telkom and KT Corporation (collectively "the Companies").
Shareholders are advised that the Companies have completed the diagnostic review and harmonised their respective findings. The Companies are now in the process of finalising the terms of the Potential Strategic Venture. Once the terms have been agreed, the Companies will present the Potential Strategic Venture to their respective boards of directors for approval before engaging with key stakeholders and presenting the terms of the Potential Strategic Venture to Telkom shareholders for approval.
Shareholders are once again advised that whilst discussions regarding the Potential Strategic Venture are ongoing, there is still no certainty that a formal transaction will be proposed or concluded. Accordingly, shareholders are advised to continue exercising caution when trading in the Company`s securities until a further announcement is made.
25 April 2012
Lead financial advisor and transaction sponsor to Telkom:
Sponsor to Telkom:
UBS South Africa (Pty) Ltd