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
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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
Telkom has rubbished claims by a trade union that a jobs bloodbath is looming at the telecommunications operator. The South African Communications Union claimed on Monday that the company intends slashing its workforce in half – firing 9 500 of Telkom’s 19 000 employees – within the
South Africans love to complain about Telkom. It’s been a national pastime for years. The customer service problems associated with the fixed-line operator are the stuff of legend – and nightmare. So, when Telkom’s CEO, Sipho Maseko, steps up to the plate and promises to fix these deep-seated
Vodacom is going to face an uphill battle in its attempt to get regulatory approval for its R7bn acquisition of Neotel. Its competitors, who are already publicly questioning the legality of the deal, are likely to lobby for it to be scuppered or at the very least have strict conditions imposed on it. “It will be challenged
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