The four-gigabyte iPod Nanos, which retail for about R1 600, were handed out in gift packs to all guests as they left the function.
Telkom has agreed to offer workers a salary increase of 11,5%, said the Communications Workers’ Union on Saturday.
As the battle within the ANC rages on, the mixed messages emanating from Telkom’s head office suggest that it may be caught in a power struggle.
Telkom will resume wage negotiations on Thursday with two trade unions, following a stayaway which lasted for three days.
Fixed-line phone company Telkom announces a R1,7-billion deal with Absa to provide the banking group with a virtual network for its branches.
Telkom said on Friday that only about 2 500 employees, or 16% of those represented in wage talks, had heeded union calls to down tools.
Telkom workers from two South African communication industry trade unions will go on strike from August 1 to 5 over wage demands.
The Public Investment Corporation has supplied the money for two of the biggest disinvestments from South Africa since the apartheid era.
South African telephone company Telkom may be looking at a buyer for its pay-television unit, a local newspaper reported on Friday.
History has shown that fixed-line telcos with no mobile partner find the going tough in a converging telecoms sector.
South Africa’s second network operator is taking on Telkom in the broadband space
Telkom has asked for a 2,4% increase from August 1, it said on Friday. It has filed the request for tariff adjustments with Icasa.
Telecommunications behemoth Telkom stands accused of being a headless chicken, with critics saying it is confused about its business strategy.
Voting is open for the 23rd annual Telkom Charity Cup, South Africa’s one-day knockout competition featuring four teams.
Telkom posted a 4,4% fall in its headline earnings per share, and said it aims to re-enter the cellphone market by selling its interest in Vodacom.
The fixed-line business faces challenges with increased competition and pricing pressures in its traditional high margin, predominantly retail markets, Telkom said on Monday.
Telkom has had an offer from a Vodafone unit for its half of mobile operator Vodacom, while Mvelaphanda may lead a bid for the whole group minus the Vodacom stake, Telkom said on Monday. Shares in Telkom jumped over 15% to R158, the highest level in six months and valuing the company at R82,28-billion.
Former politician turned businessman Tokyo Sexwale’s company has launched a R90-billion conditional bid for fixed-line operator Telkom, a newspaper reported on Sunday. Sexwale, an ally of ruling African National Congress president Jacob Zuma, turned down a nomination to be part of the ruling party’s top six officials but remains a supporter.
South Africa’s biggest cellphone operator, Vodacom, reported a rise in annual profit as it boosted subscriber numbers, parent company Telkom said on Tuesday. Telkom, Africa’s largest fixed-line telephone operator, said Vodacom had increased its total subscribers by 12,7% to 34-million in the year ended March.
Telkom’s corporate and global customers have been made aware of a new refund scam which is currently doing the rounds, the listed telecoms giant said on Monday. The modus operandi involved the criminals pretending to be Reuben September, Telkom’s CEO.
South African stocks remained higher at noon on Tuesday, supported by miners on stronger metal prices, but shaky overseas markets and stronger rand limited the upside move, traders said. Local mobile phone firm MTN Group remained the most heavily traded stock by value after it confirmed that it was in share price-sensitive talks with an Indian firm.
Telkom has introduced a second area code for Johannesburg, which will operate alongside the existing 011 code. "Following an announcement of a move to the mandatory 10-digit dialling, Telkom has recently been allocated … the first batch of numbers in the 010 area code for use within the same geographic boundary as the existing 011 code," Telkom said on Tuesday.
World markets were dampened by negative earnings reports from the United States on Monday, causing the JSE to pull back sharply. By midday, the JSE’s broader all-share index had fallen 1,48%. The banking index pulled back 2,51% and financials retreated 1,41%.
Firmer global equities started to give the JSE support during the morning session on Friday, lifting the broader all-share index 0,91% by noon. Traders said that resource counters were also underpinning gains in the Alsi. By midday, the JSE’s resources index collected 1,59%. The platinum-mining index strengthened 3,07% and the gold-mining index advanced 1,25%.
The JSE remained quiet by midday on Thursday as investors waited anxiously for the local monetary policy committee’s (MPC) rate decision at about 3pm. The consensus is for an unchanged repo rate at 11%, according to a survey of leading economists.
The JSE was looking lifeless at midday on Tuesday, as there was no real driver to push the market in either direction, traders said. By 11.59am, the JSE’s broader all-share index had shed 0,1%. The gold mining index dropped 3,14%, resources fell 1,48% and the platinum mining index declined 0,55%.
Telkom said it has rejected an approach from Oger Telecoms and will not consider the sale of the group or any of its units or joint ventures without a strategic rationale. Telkom said in a statement on Monday it had turned down the approach from United Arab Emirates-based Oger as it was not in the interest of shareholders.
Due to South Africa’s sustained economic growth the country was in good shape to deal with the electricity crisis, according to a ratings agency Standard & Poor’s (S&P) report released on Thursday. The Treasury had estimated that the power constraints would knock 0,6% off the country’s growth in 2008, a figure S&P said was ”plausible”.
Mining counters gave the JSE some extra momentum on Wednesday, pushing the bourse more than a percent higher by midday. At noon, the JSE’s broader all-share index was 1,29% in the black, driven by a 5,45% rally in the platinum-mining index. Resources advanced 2,47% and the gold-mining index rose 1,07%.
The JSE remained firm by midday on Tuesday as overnight gains in the United States triggered good buying interest among global equities. By noon, the JSE’s broader all-share index was up 2,22%. Banks gained 3,1% and financials lifted 3,06%.
The JSE was little changed at its softer levels by midday on Tuesday as investors took to the sidelines ahead of the United States Federal Open Market Committee’s rates decision later in the day. By noon, the JSE’s broader all-share index was down 0,86%. Resources fell 2,26%, the gold mining index dropped 1,76% and the platinum mining index shed 0,76%.
The resources index kept the JSE in firmer territory by midday on Friday, enhancing the morning session’s gains. At noon, the JSE’s broader all-share index was up 1%, driven by the 1,75% advance in the resources index. The gold mining index recovered 0,06% but the platinum mining index gave up 0,23%.