Shares in Telkom have rocketed more than 21% since reaching a multi-year low in intraday trading last Thursday, signalling that investors believe the sell-off was overdone.
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In some rare good news for MTN Group, Nigeria’s attorney-general has withdrawn a $2-billion (R28.5-billion) tax demand against its subsidiary in the West African nation.
Nigeria plans to invest R10.4-billion in broadband infrastructure over the next four years as the government sets its sights on nationwide coverage and to boost an economy recovering from a 2016 contraction.
Telkom fell through R30/share on Thursday as the six-month-long slide in its share price – which has now wiped out more than 70% of its market value – continues.
Brazil will not accept any pressure from the US over whether to allow the Chinese company Huawei to bid for its 5G network, said Marcos Pontes, the minister for communications.
Orange, France’s biggest phone company, has picked BNP Paribas and Morgan Stanley to advise on a proposed initial public offering of its Middle East and Africa business, sources say.
How Huawei survived the US blacklisting could prove a case study in unintended consequences and a vast shift underway in global IT production.
SpaceX has launched 60 more mini Internet satellites, this time testing a dark coating to appease stargazers.
MTN Group said on Thursday that it is selling its 49% stake in the Ghana and Uganda Tower Company to a subsidiary of American Tower Corporation for about R7.3-billion.
MTN Group said on Monday that it is facing a lawsuit over alleged contravention of the US Anti-Terrorism Act in Afghanistan where it is accused of paying protection money to the Taliban.