South African telecoms operator Telkom TKGJ.J and mobile-service provider Rain have ended discussions related to the newly issued shares in Telkom.
In September, Telkom received a non-binding offer from Rain seeking its purchase by Telkom in exchange for new Telkom shares.
"After initial discussions, but prior to any due diligence, the parties have decided that a suitable transaction is not possible at this time," Telkom said in a statement.
The canceled deal ends hopes of the JSE-listed carrier’s purchase of the wireless broadband newcomer.
