Listed Africa and Middle East cellular operator MTN denies it has received any "specific proposals" from companies interested in acquiring a stake in the business.
The company announcement, issued on the Stock Exchange News Service this morning, notes it is aware of speculation in the press today regarding a potential offer.
"MTN receives tentative approaches from time to time, which are always evaluated by the company. The board of MTN has not received any specific proposal and if and when there is anything specific to report, the market will be notified," it said.
Yesterday, London-based newspaper Financial Times revealed Indian company Bharti Airtel was considering making a bid for the local operator.
On the back of this news, MTN's share price rose 7% this morning to highs of R142.45. At mid-day, the company was trading at R136.99, which was 3% up on yesterday's close.
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