TeleMasters has been listed on the JSE's AltX exchange since 2007.
"Shareholders are advised that the two largest shareholders of TeleMasters have been approached by a BEE company to acquire their shares, subject to a number of conditions," the company said in a statement to investors on Friday.
"Discussions are ongoing, and certain regulatory matters have to be concluded by the acquiror before a formal offer can be made. However, the interested party has to engage with advisors and funders and thus maintenance of confidentiality of information cannot be controlled by TeleMasters," it said.
"If a formal offer is made and accepted, it will result in a change of control of TeleMasters and a mandatory offer being made to the remaining shareholders in the company on the same terms."
According to the most recent regulatory filing the companys consolidated 2023 financial results the two largest shareholders in TeleMasters together hold 77.1% of the company's equity. Those shareholders are:
