South Africa declared support for a proposed tie-up between domestic telecoms operator MTN and India's Bharti Airtel on Tuesday, making the complex cash-and-shares deal more likely to succeed.
India's Bharti Airtel and South Africa's MTN have revived merger talks to create a $61 billion telecoms giant spanning Africa, Asia and the Middle East a year after their previous attempt foundered over who would control the combined entity.
British-based mobile phone giant Vodafone Group Plc raised full-year profit and sales forecasts on Tuesday after a strong set of half-year results topped consensus expectations, sending its shares climbing.
South African telecommunications group Telkom SA, denied on Monday that talks concerning a possible takeover by British cell phone group Vodafone had taken place.