Telkom’s fixed-line and enterprise business lines have taken a battering due to the Covid-19 lockdown, but its consumer mobile business is flying, the company said in a market update on Friday.
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On the face of it, the Covid-19 lockdown was an inadvertent blessing for South Africa’s telecommunications operators.
Telkom shareholders have shot down a special resolution at its AGM that would have allowed the company to issue more shares for cash if it had been approved.
Santie Botha and Khanyisile Kweyama are stepping down from the board of Telkom, while Alphonzo Samuels will join the board along with Herman Singh.
Telkom on Thursday rubbished market talk that it plans to do a right issue to fund its participation in the upcoming spectrum auction to be led by communications regulator Icasa.
Telkom has launched what is, for most users, effectively an uncapped mobile broadband product, offering a terabyte per month of data, for R999.
Ten years after it launched its first mobile offering in the form of 8ta, Telkom has surpassed Cell C to become South Africa’s third largest mobile operator by subscriber numbers.
The high court in Pretoria has handed a significant and potentially ground-breaking legal defeat to Telkom, and victory to Vodacom, over the use of the former’s ducts used to carry broadband cables.
Telkom Group CEO Sipho Maseko has taken a haircut to his remuneration in the 2020 financial year after no short-term incentives were paid to executive directors.
MTN South Africa is feeling the impact of the lost revenue from former roaming partner Telkom, with the company’s service revenue declining by 2.5% year on year despite a strong operational performance.