South Africa: MTN in Talks to Buy $1.3 Billion-Valued Carrier Telkom

MTN Group Ltd. is in talks to buy smaller domestic rival Telkom SA SOC Ltd. in a deal that would make the combined company the biggest South African mobile-phone operator by number of subscribers.

MTN proposed to pay for the partially state-owned Telkom in shares or a combination of cash and stock.. Discussions are at an early stage and there is no certainty the transaction will be completed, the carriers said.