MTN Group will push on with a plan to reduce its majority stake in its Nigerian business, though turmoil caused by the coronavirus may require the sale to be done in smaller chunks than anticipated.
Telkom and the Competition Commission have reached an agreement over concerns the regulatory watchdog had over its wholesale IP Connect product.
Financially distressed mobile operator Cell C said the second half of its 2019 financial year showed a solid turnaround in its fortunes, with a R1-billion improvement in Ebitda.
African Rainbow Capital Investments has attached a remarkable R13.1-billion valuation to Rain, giving it a value 40% above Telkom’s current market capitalisation.
MTN Group said its Iranian business is still able to achieve strong sales growth in the short term, even as the unit battles to overcome ongoing US sanctions and the rapid spread of the coronavirus.
Many South African technology companies are allowing their employees to work from home and encouraging them to make use of technology to avoid face-to-face meetings with colleagues and clients.
South Africa’s benchmark stock index plunged the most since the market crash of October 1997 as reaction to US measures aimed at curbing the spread of the coronavirus accelerated the sell-off.
Rob Shuter’s announcement that he will not seek to extend his contract as MTN Group CEO a year before it ends will allow the board enough time to pick a suitable candidate.