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.
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The so-called phase-one US-China trade pact has done little to allay fears about Huawei Technologies’ prospects and those of its key suppliers, two analyst research reports suggest.
It’s turning out to be a bleak start to the new year for employees at the partially state-owned telecommunications operator Telkom, with as many as 3 000 jobs on the line.
Rain will sell its Broadlink telecommunications business to Internet and cloud service provider CipherWave, TechCentral has learnt.
Vodacom is in talks with Cell C about taking on the smaller rival’s contract-paying mobile phone customers, a move that would strengthen its position as South Africa’s telecommunications market leader, sources said.
Boris Johnson said he would not risk Britain’s security when upgrading the UK’s 5G communications network, but said critics of Chinese technology firm Huawei must come up with an “alternative” provider.
MTN Nigeria Communications surged by 10% in Lagos on Monday, the most allowed by the exchange and matching the biggest gain since its May market debut.
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.
In some rare good news for MTN Group, Nigeria’s attorney-general has withdrawn a $2-billion (R28.5-billion) tax demand against its subsidiary in the West African nation.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.