MTN South Africa lost 300 000 customers in the quarter ended 30 September 2019, but still managed to eke out service revenue growth of 0.4%. It ended the period with 28.9 million subscribers.
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Cell C has regularised its payments to MTN South Africa for network roaming and has coughed up almost R750-million between July and September.
MTN Group shares fell in Johannesburg on Wednesday after it said subscribers in its key Nigerian unit grew by only 0.1% in the quarter ended 30 September and capital expenditure rose.
Blue Label Telecoms, which bought a 45% stake in Cell C in 2017 for R5.5-billion, has said in its annual report that it is “extremely disappointed” in the performance of the mobile operator.
Criminals are becoming increasingly sophisticated in their efforts to defraud customers, MTN South Africa warned on Monday.
Nigerian regulators have warned they may have to take action to boost competition in the telecommunications industry, a move that could affect international operators including market leader MTN Group.
MTN South Africa CEO Godfrey Motsa said on Thursday that it is not the company’s responsibility to save rival Cell C, but it’s also not in the interests of the telecommunications sector or the country to allow it to fail.
Helios Towers rose 1.8% in London after raising R5.4-billion in a long-delayed share sale that gives investors a foothold in Africa’s fast-growing wireless tower industry.
Multiple sources close to Cell C have rubbished a report that China Mobile is about to strike a deal to buy a stake in the troubled South African mobile operator.
South Africa’s third-biggest mobile operator has put core parts of the business up for sale as it struggles with R9-billion of debt and deepening losses.