South Africa’s Telkom has suspended talks regarding its takeover by a consortium led by the Mvelaphanda Group because of “current market conditions and pricing considerations,” reports Bloomberg. In a statement, Telkom said it was still in talks with Vodafone regarding the sale of a 12.5 percent Telkom stake in Vodacom – the two operators’ 50-50 mobile joint venture – and that “further announcements will be made… shortly” regarding its remaining stake. Any future acquisition by Mvelaphanda is dependent on Telkom first divesting its stake in Vodacom. “Should market conditions change, we are definitely open to entering into further talks,” a Telkom spokeswoman told Bloomberg. Vodafone reportedly declined to comment on the situation. 

Talks between the various parties have been ongoing since June. In the same month, Telkom CEO Reuben September hinted that the disposal of the Vodacom stake would enable Telkom to re-enter the country’s mobile market; its alliance with Vodafone had barred it from doing so previously. The company has reportedly invested ZAR1.7 billion (US$219 million) in WCDMA technology from Huawei, allowing it to offer mobile data alongside fixed and ‘fixed-wireless’ voice services.