Telkom is to rein in spending to cope with rising costs after reporting a 17.9% fall in half-year core profit.
Browsing: Serame Taukobong
Telkom and three state-owned enterprises have called for “drastic measures” to deal with infrastructure vandalism and theft in South Africa.
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 paid its former group CEO, Sipho Maseko, R20-million in retention bonuses in the past two years plus a R32-million restraint to prevent him being poached by competitors.
MTN Group has entered into discussions to acquire Telkom. The talks are at an early stage, the parties said, and might not result in a deal.
Telkom Group CEO Serame Taukobong said he has zero interest in buying smaller rival Cell C, making it clear that no deal will happen on his watch.
Telkom is considering all “viable” options for its towers and masts business, Swiftnet, including the sale of a majority stake in the company.
Just one working day before it was due to take on communications regulator Icasa in a high-stakes, week-long battle in the high court, Telkom has withdrawn its legal action over the recent spectrum auction.
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.