The months-long speculation has now been confirmed by Telkom that it is investigating the possibility of taking over the struggling Cell C.
However, Telkom later confirmed that it had made an offer to the mobile phone company, which was widely regarded as an attempt to replenish its lost customer base.
Although Cell C is the third largest mobile phone company in South Africa, the entity struggles to stay afloat while the other two mobile phone companies operate profitably.
One of the main reasons cited by financial experts is that Cell C, with various rates that are too low, has tried to increase its market share, which is not a successful endeavor.
The large workload of a large top post incumbent is also seen as a reason why the industry has struggled for years to improve its financial standing.