Telkom is to rein in spending to cope with rising costs after reporting a 17.9% fall in half-year core profit.
Browsing: Openserve
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.
The number of fixed lines in service has plunged below a million for the first time as Telkom continues to decommission its legacy copper network.
The price war between fibre network operators is intensifying, with MetroFibre Networx the latest to offer significantly improved value to home broadband users.
New Telkom CEO Serame Taukobong has a challenge on his hands: the mobile growth story that underpinned the business in recent years appears to be ending.
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Openserve, the wholesale division of Telkom, has announced that it will serve as the landing station partner for Google’s massive Equiano submarine cable system in South Africa.
Telkom burned through close to R1-billion cash in the most recent six months.