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.
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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.
Leading MTN Group has come at an “enormous sacrifice”, outgoing CEO Rob Shuter said on Wednesday at a media conference following the presentation of the telecommunications operator’s 2019 financial results.
MTN Group CEO Rob Shuter will step down from his role at the end of his fixed four-year contract in March 2021, he announced in a conference call on Wednesday morning.
All eyes are on MTN South Africa and Telkom, which have failed to reach an agreement with the Competition Commission to lower data prices within the specified deadline.
MTN Group shares fell more than 12% on Monday morning in Johannesburg, to their lowest levels in nearly 14 years, as investors digested the news of a shock fall in oil prices overnight.
Police have arrested five suspects belonging to one of South Africa’s largest battery theft syndicates, mobile operator Vodacom said on Thursday.