Telkom SA SOC Limited (JSE:TKG) agreed to acquire the remaining 35.1% stake in Trudon (Pty) Ltd for approximately ZAR 210 million on March 20, 2019. The parties signed the sale of shares agreement in May 2019. The total consideration was attributed as follows: ZAR 159.4 million to the acquisition of the 35.1% non-controlling interest and ZAR 51.2 million to the acquisition of intangible assets. Prior to the transaction, Telkom holds 64.9% stake in Trudon. As per the transaction, Telkom acquired the remaining 35.1% of Trudon resulting in Telkom holding 100% stake in Trudon. The Telkom Board approved the acquisition on March 20, 2019. On July 10, 2019, Competition Tribunal of South Africa unconditionally approved the transaction.