The share price of Telkom tumbled on Monday morning while Blue Label Telecoms rose after MTN South Africa and Cell C announced they had signed a massively expanded roaming deal.
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Telkom said that it expects that the “parties involved” will have considered the newly announced, much-expanded roaming agreement between Cell C and MTN South Africa “in the context of the discussions with Telkom”.
MTN South Africa and Cell C have signed a comprehensive new roaming deal, potentially making it more complicated for Telkom to pursue an acquisition of Cell C.
Telkom on Friday informed investors that it is pursuing an acquisition of Cell C. So, why didn’t Telkom just say so in the first place? By Duncan McLeod.
Telkom on Friday confirmed what everyone already knows: that it is pursuing an acquisition of the financially troubled mobile operator Cell C.
Telkom CEO Sipho Maseko said communications regulator Icasa is making a grave mistake in the way it proposes to license access to the 5G-suitable 3.5GHz radio frequency spectrum band.
Communications regulator Icasa on Wednesday moved to caution those involved in various efforts to rescue mobile operator Cell C that any deal must meet “regulatory compliance requirements”.
In the past year, Telkom lost 186 141 copper broadband lines but only gained 55 577 fibre connections. This has caused tremendous pressure on its revenue line.
Telkom wants to buy Cell C in a plan that will include reducing its troubled rival’s debt and renegotiating contracts with suppliers, according to people with knowledge of the situation.
Though Telkom continues to invest in fibre-to-the-home broadband, the number of fixed lines in service fell by almost a quarter year on year in the six months to end-September 2019.