Vodacom announced on Friday that its CEO, Shameel Joosub, acquired nearly R3,5m worth of the company’s shares this week at an average purchase price of R129,35/share. News of the share purchase comes just days after Vodacom announced that Joosub had also been granted 95 482 new shares as
Last week was one of the most interesting in the history of telecommunications in South Africa. Telkom made its second bid in seven years for Business Connexion (BCX), while Vodacom and Neotel came to an agreement on a R7bn acquisition, which, if approved, will finally give the mobile operator a compelling offering in the enterprise
There is a certain irony in the fact that at the same time that our cellphone companies are announcing dramatic cuts to both their data and call rates in what appears to be a price war, we are also confronted by announcements on proposed tie-ups that, if concluded, will reduce competition in the sector. The irony is no coincidence. Cell C’s effort to win market
Vodacom published its annual results for the 2014 financial year on Monday. TechCentral editor Duncan McLeod sat down with the group’s CEO, Shameel Joosub, after the results presentation to ask him about the operator’s offer to buy Neotel as well as its plans to relaunch M-Pesa. Joosub talks about Vodacom’s view on where
Delays by government in creating a policy for the licensing of additional spectrum needed to build next-generation mobile broadband networks forced Vodacom into making an offer to buy rival telecommunications operator Neotel. Vodacom CEO Shameel Joosub says mobile
South African smartphone users on Vodacom’s network use an average of 253MB/month each, while tablet users consume an average 743MB/month each, the mobile operator has revealed. In the financial year ended 31 March 2014, Vodacom increased the number of smartphones and tablets on its network by 23,5% to 7,8m. “Demand for
After many months of negotiation, Vodacom and Neotel are finally getting into bed with each other. Vodacom has reached an agreement with Neotel’s shareholders to buy 100% of the company, including shareholder loans against it, for a total cash consideration equivalent to an enterprise value of R7bn. The deal, if it gets the necessary regulatory
Vodacom Group CEO Shameel Joosub has defended his company’s decision to join MTN in suing communications regulator Icasa over cuts to mobile termination rates, the fees operators charge each other to carry calls between their networks. Writing in an opinion piece
I often wonder if certain captains of industries are entirely disconnected from reality. It’s the only thing that can explain the breathtaking gall of Vodacom CEO Shameel Joosub, who complained publicly that new regulations would cost his company R1bn in 2015, threatening to sue as a result
Vodacom will lose R1bn in the 2015 financial year if the Independent Communications Authority of South Africa’s final termination rates are not challenged and overturned. That claim was made by the operator’s group CEO, Shameel Joosub, on a call to analysts on Wednesday
