Telkom plans to raise R1-billion by the end of its financial year through the sale to external financial institutions of “qualifying receivables” related to upfront device sales.
Browsing: Openserve
Openserve, the wholesale infrastructure subsidiary of Telkom, said on Monday that it will significantly boost line speeds across its fibre network from 1 April.
Promoted | South Africa’s favourite connectivity provider is set to upgrade fibre network speeds for all customers on the Openserve fibre network.
Telkom CEO Serame Taukobong has told TechCentral that the company is giving serious consideration to selling a stake in Openserve.
Telkom CEO Serame Taukobong said the operator is open to further talks with MTN Group about a transaction.
The telecommunications operator has reported a poor set of interim results for the six months to end-September 2022.
Telkom is to rein in spending to cope with rising costs after reporting a 17.9% fall in half-year core profit.
Telkom will complete the legal separation of its wholesale division Openserve on 1 September, with the unit becoming a wholly owned subsidiary.
Telkom’s fibre network is now available to more than 890 000 homes in South Africa as the company rapidly moves on from legacy copper.
Telkom has reported a decline in full-year revenue of 1.1%, to R42.8-billion. It has blamed tough competition and the weak state of the economy.