No legs in KT Corp deal for iWayAfrica

No legs in KT Corp deal for iWayAfrica

South African part state-owned telecommunications provider Telkom has confirmed it has ended negotiations with KT Corp over the sale of iWayAfrica.

HumanIPO reported in May reports in the United States and South Korea emerged stating the Korean company were looking to acquire internet service provider from Telkom.

But Telkom has now stated while those talks did take place, they were not successful and are no longer ongoing.

A Telkom statement provided to HumanIPO said: “Telkom was in talks with KT over a possible transaction involving iWayAfrica at the beginning of 2013. These discussions ended months ago with no transaction being concluded.”

Formed in 2010 after the merger of Africa Online, Afsat Communications and MWEB Africa, iWayAfrica has become the leading corporate data provider in Africa.

Posted in: Telecoms

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