MTN was trading nearly 3% lower in midmorning trading on the JSE on Tuesday after dropping a bombshell on Monday…
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MTN chief financial officer Nazir Patel has resigned from the telecommunications group’s board “with immediate effect” amid “certain allegations” made against him. The allegations, the details of which have not been disclosed, are the subject of an ongoing investigation commissioned by MTN, the group said in a short statement to
Reductions in mobile termination rates, the fees operators charge each other to carry calls between their networks, has had a direct impact on the retail price of prepaid telephony in South Africa, but tariffs are still far higher than elsewhere in Africa and further big cuts are needed
Mobile operator Cell C has held discussions with Telkom about opportunities to consolidate South Africa’s mobile phone industry, CEO Alan Knott-Craig revealed in a radio interview on Thursday (full audio transcript below). In response to a question from Talk Radio 702 host Stephen Grootes about whether
South Africa is too small a market to accommodate four mobile operators, Cell C CEO Alan Knott-Craig told journalists on Wednesday. Replying at a media conference to a question from TechCentral, Knott-Craig said: “I think it’s too late for four. Maybe [it made sense] five or seven years ago [but] after 20
The combined R5,7bn Cell C has received from its majority shareholder, Oger Telecom, and in financing from a Nedbank-led grouping will be used to improve its network and win market share from rivals Vodacom and MTN, says the operator’s CEO, Alan Knott-Craig. But Knott-Craig
Cell C’s majority shareholder, Dubai-based Oger Telecom, has earmarked an equity investment of US$350m (R3,5bn) for the mobile operator. In addition to the shareholder injection, key lenders, including Nedbank and Development Bank of South Africa (DBSA), have concluded a long-term financing package of R2,2bn to Cell C, in a transaction arranged
Johannesburg-listed mobile telecommunications group MTN is investing US$75m in a UK-based fund run Amadeus Capital Partners. Amadeus says the new fund will invest in “late-stage venture and growth companies, predominantly in mature markets, developing online and mobile applications and services
Puleng Kwele, who was appointed as CEO of Broadband Infraco in 2012, believes the state-owned wholesale fibre-optic infrastructure provider, whose clients include Neotel, MTN and Cell C, is poised to turn around its fortunes in the financial year ended March 2014
Telkom Mobile has slashed prepaid call tariffs to 29c/minute on per-second billing for on-network calls and to 75c/minute to all other networks. The new prepaid tariff plan, called Sim-Sonke, is “expected to blow the competition out of the water by offering the lowest standard mobile call rates in the country”, Telkom says in a statement