Telkom's R2.7B ($234M) acquisition of South Africa's Business Connexion can still go ahead without license swap

Telkom SA SOC Ltd.’s planned 2.7 billion-rand ($234 million) acquisition of South Africa’s Business Connexion Group Ltd. is “100 percent on track” even as the phone company withdrew an application for a license transfer.

“Both parties believe the application for the license transfer from Business Connexion to Telkom is not required,” Telkom spokeswoman Jacqui O’Sullivan said in e-mailed comments on Tuesday. “The deal remains 100 percent on.”

Read more: Telkom-Business Connexion Deal Can Go Ahead Without License Swap – Bloomberg Business.