Browsing: Sipho Maseko

The Competition Tribunal has given “formal confirmation” to the settlement agreement reached between the Competition Commission and Telkom, the telecommunications operator said on Thursday. The agreement has been made an order of the tribunal, Telkom said. “This agreement

South Africa is too small a market to accommodate four mobile operators, Cell C CEO Alan Knott-Craig told journalists on Wednesday. Replying at a media conference to a question from TechCentral, Knott-Craig said: “I think it’s too late for four. Maybe [it made sense] five or seven years ago [but] after 20

Days after newly appointed Telkom CEO Sipho Maseko dug into his own pocket to buy up R1m of the telecommunications group’s shares, its chairman has now done likewise. Telkom revealed to shareholders in a statement issued through the JSE that Jabu Mabuza, who was

Telkom’s newly appointed group CEO, Sipho Maseko, has bought shares worth almost R1m in the JSE-listed telecommunications operator. Maseko bought 52 000 shares on Thursday, 11 July, worth R990 080. The purchase came on the same day that Telkom Mobile slashed prepaid voice tariffs to

For years, Telkom has been like a frog in slowly warming water. It’s kept broadband prices far too high while watching on puzzled as its subscribers abandoned it in favour of mobile alternatives. It has a high cost structure – mainly because it has too many employees – but consumers don’t care about its challenges. And

Despite Telkom’s tough talk about learning from its mistakes, taking hard decisions and rising like a phoenix from the ashes, investors are simply indifferent to the promises made by Africa’s largest integrated communications company. The news of a R12bn write-down in assets in Telkom’s results

Potential job cuts and the disposal of money-losing assets is looming at Telkom, Business Report said on Tuesday. The restructuring came at a time when the telecommunications company ramped up its bid to cut costs and position itself to compete in a cut-throat market. According

Telkom has agreed to pay a R200m penalty, to functionally separate its retail and wholesale divisions, to adhere to pricing commitments for the next five years, and to allow its future conduct to be monitored. This all forms part of a settlement with the Competition Commission over anticompetitive abuses

Telkom will impair the carrying value of its fixed-line network by R12bn, the JSE-listed telecommunications group said on Tuesday. This will reduce its net asset value from about R57/share to R34/share. Telkom said last week that it was considering the impairment

News that Telkom may write down the value of its legacy network infrastructure is positive, analysts say. Not only will it bring its balance sheet “in line with reality”, but is indicative of a board of directors looking after an embattled company’s best interests, they say. On Tuesday