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/ 2 February 2006
As the strike by Transnet employees in KwaZulu-Natal ended on Wednesday, four trade unions handed over a memorandum to Transnet management. In the memorandum, directed to Transnet CEO Maria Ramos, the unions urged management to respect processes and structures established for the purposes of negotiating.
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/ 11 January 2006
Gold was higher in choppy and highly liquid trade on Wednesday afternoon amid a firmer euro. At 2.46pm, gold was quoted at $544,20 a troy ounce, up $1/oz from its previous close. "It has been quite a choppy and volatile day. We’ve seen extremely high levels of liquidity," a Johannesburg-based trader said.
While 2005 brought deregulation and the licensing of the second national operator, South African telecommunications users are set to experience tariff reductions as a result of regulatory changes and increased competition for fixed-line, mobile and data operators in 2006.
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/ 22 December 2005
Shares in MTN Group extended their winning streak to reach a fresh all-time high of R62,50 in early trade on Thursday on the news that the JSE-listed cellular operator is part of the consortium vying for Egypt’s third mobile-network licence that would compete with Cairo-listed Vodafone Egypt and Orasscom.
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/ 9 December 2005
Following the licensing of the second national operator to compete with Telkom, South Africa is finally set for a duopoly of fixed line operators, possibly from 2006, it was announced on Friday. Although the SNO licence issued by the Independent Communications Authority (Icasa) entitled the new player to compete with Telkom on the public switched telecommunications service front, the unbundling of the local loop has been delayed until further notice.
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/ 24 November 2005
Listed cellphone company MTN Group on Wednesday reported a 30,8% rise in adjusted headline earnings per share to 222,5 cents for the six month period ended September 30, versus 170,1 cents reported last year. In South Africa, MTN’s customer base grew by 12% to 8,9-million.
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/ 21 November 2005
The free-to-air Soweto Community TV service is to launch on November 26 despite a shortage of funding required for licensing fees and administration costs among other expenses, station CEO and head of marketing Tshepo Thafeng said on Monday. The project should be able to start airing from Saturday November 26 as scheduled.
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/ 4 November 2005
London-headquartered Vodafone on Thursday purchased 1,03% in VenFin’s issued share capital for R213,9-million in open-market transactions, the cellular giant disclosed to the JSE on Friday. Vodafone acquired 4,6-million VenFin shares in 18 deals for amounts ranging from R44,75 to R46,60 per share.
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/ 3 November 2005
London-headquartered Vodafone’s offer to increase its stake from 35% to 50% in local mobile network Vodacom was on Thursday hailed as a vote of confidence in South Africa’s political landscape and economic prospects. Vodafone has offered to acquire VenFin’s 15% holding in Vodacom for an estimated R16-billion.
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/ 2 November 2005
Shares in South African telecommunications companies MTN Group, Telkom and investments holdings company VenFin rallied to all-time highs on Wednesday. An equities dealer said these stocks were under pressure lately due to cellular operators’ announcements of reduced tariffs, but these cost-cutting initiatives have proved benign.