Business Connexion shareholders have voted overwhelmingly in favour of a R2,7bn all-cash offer from Telkom, paving the way for a review by South Africa’s competition authorities and communications regulator Icasa. Telkom has offered BCX shareholders R6,60/share to buy 100% of the company. The deal is seen as
Telkom, for many years shunned by both institutional and retail investors, appears to have shed its poor image in the investment community, with the market rushing to snap up its shares on the expectation of a significant turnaround in its fortunes. The share price was trading up by more than 6% in lunchtime trading on the JSE on Tuesday
Business Connexion (BCX) shareholders will next week vote on whether to accept Telkom’s R2,7bn all-cash offer to buy them out. But the deal looks set to pass, with Telkom saying on Tuesday that 80% of shareholders have given their written undertaking to support the proposed deal. The meeting, which will take place on Monday
JSE-listed IT services firm Business Connexion (BCX) hopes its sale to Telkom is finalised by late November or early December, although the company has admitted it could be delayed if the transaction is challenged
The late Benjamin Mophatlane’s twin brother, Isaac Mophatlane, has been appointed as CEO of JSE-listed technology services company Business Connexion. Benjamin Mophatlane passed away a month ago at the age of 41 following a heart attack. He had complained of chest pains during a meeting in Johannesburg and
Capital Eye Investments, the company that emerged out of what was left of JSE-listed UCS Group after Business Connexion acquired its services businesses four years ago, plans to launch a private equity fund to invest in start-ups and established technology businesses. Capital Eye
Business Connexion (BCX) will hold a memorial service for its late CEO, Benjamin Mophatlane, in Pretoria on Thursday and the company has invited anyone who would like to pay their last respects to attend the service. Mophatlane passed away last week, 11 June, in Johannesburg after suffering a heart
MTN will not get access to Telkom’s valuable chunk of 4G/LTE radio frequency spectrum in the 2,3GHz band. The negotiations between the two companies, in which it is proposed that MTN takes over the financial and operational management of Telkom’s radio access network, specifically excludes
Fixed lines were again the weakest link in Telkom’s annual financial results. For the year ended 31 March 2014, fixed-line data revenue went into reverse for the first time, recording a decline of 1,1%, while fixed voice and interconnection revenue fell by 7,4%. The company still managed an increase
Telkom and Business Connexion have agreed to suspend talks following the death on Wednesday of BCX CEO Benjamin Mophatlane. The two had been in negotiations following the telecommunications operator’s decision to table a R2,7bn offer to buy the IT services company. Mophatlane died on
