Naspers plans to sell about 22 million shares in Prosus to increase the free float of its European-listed Internet spin-off.
Author Duncan McLeod
Extreme weather has delayed the departure of a ship from Cape Town, whose crew has been tasked with fixing two subsea cable breaks that are negatively affecting international connectivity in South Africa.
Liquid Telecom on Monday confirmed that it will launch a wholesale 5G network “early in 2020”. Vodacom is set to be one of the first customers to use it.
Communications minister Stella Ndabeni-Abrahams has slammed a Sunday Independent report, in which she is accused of misusing taxpayers’ money, describing the article as a “malicious smear campaign”.
A major electronics manufacturing facility in East London, which until recently made decoders for MultiChoice, faces possible liquidation after it reportedly failed to make repayments on a R200-million loan.
Both the Wacs and Sat-3/Wasc cables providing international connectivity from South Africa to international markets were knocked out on Thursday, causing slow connections for some consumer and business users.
Communications minister Stella Ndabeni-Abrahams said on Thursday that she will meet urgently with Telkom management to discuss the company’s plan to let go of as many as 3 000 employees.
Trade union Solidarity has slammed Telkom over its plan to cut up to 3 000 jobs, or 20% of its 15 000-strong workforce, describing the move as “reckless” and “merciless”.
Telkom shares jumped on Thursday after it emerged on Wednesday evening that the company plans a major retrenchment round that could see up to a fifth of its workforce let go.