Telecommunications group Altron appears to have have relaunched its bid to buy out Altech, almost six years after failing with an initial approach.
Both companies issued announcements on Friday which warned they were is talks that could affect share prices.
Altron already owns 56.48 per cent of Altech. It attempted to take Altech private in 2007, when it offered ZAR4.8 billion (US$517 million) to its minority shareholders.
While Altron were able to complete a deal for technology firm Bytes at the time, the Public Investment Corporation (PIC) scuppered their bid for Altech because of transformation concerns.
The speculation on Friday led Altech shares to jump 7.3 per cent to ZAR38.59 and rose to ZAR38.75 yesterday. Altron’s shares remained steady at ZAR21.70.
