Bytes Technology Group (BTG), the preferred bidder for CS Holdings (CSH), says talks with CSH are progressing positively.
BTG was named as the preferred bidder in mid-June, after three other suitors - Reunert, EOH and UCS Group - decided not to make an offer.
Although some analysts have expressed concern that BTG should be taking so long to come to a decision, CSH management says the process remains within a reasonable timeframe for a deal of this size and nature.
BTG says a further announcement is expected shortly.
The group appears not to have been put off by the recent troubles plaguing CSH, including being reprimanded by the GAAP Monitoring Panel, which aims at ensuring compliance with generally accepted accounting principles.
The Insider Trading Directorate is also investigating suspicious trades in CSH shares in April.
The company has been under the spotlight since February when allegations were made of a conflict of interests with regard to the sale of a business and of a lack of accounting disclosure.
The allegations resulted in the resignation of CEO Annette van der Laan, although an internal investigation had cleared her of wrongdoing.
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