South African fixed-line operator Telkom said today it has received a non-binding proposal from Vodafone for a portion of its 50 percent stake in the country’s largest mobile operator, Vodacom. Vodafone owns the other half of Vodacom and has previously stated its interest in gaining control. This latest approach by Vodafone is for a further 12.5 percent stake in Vodacom from Telkom for 18.75 billion rand (US$2.47 billion). Telkom said the latest discussions with Vodafone began on 14 May.

Separately, Telkom said it has received a letter from Mvelaphanda Holdings, together with Och-Ziff Capital Management Group and other strategic funders, for its entire issued share capital provided it unbundles its stake in Vodacom. The developments are the latest potential shake-up to hit the South African market, following Vodacom rival MTN’s admittance last week that it is in merger talks with India’s Reliance Communications.