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    TKG   ZAE000044897

TELKOM SA SOC LIMITED

(TKG)
  Report
End-of-day quote. End-of-day quote Johannesburg Stock Exchange - 09/23
44.07 ZAR   -0.56%
09/23Telkom Openserve Reportedly to Get JSE Listing
CI
09/07TELKOM SOC : S.Africa's telecoms regulator halts spectrum licensing auction
RE
08/04Telkom Announces Executive Changes
CI
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Telkom SOC : No Deal! Telkom Walks Out on Proposed Merger With Airtel

08/06/2020 | 05:08am EDT

Telkom Kenya has announced that it is no longer pursuing to merge with Airtel Kenya Networks Limited.

Telcom Chief Executive Officer Mugo Kibati in a statement announced that the two firms have made an agreement to stop the merger plans and that Telkom will pursue other strategic options to grow the business.

"After carefully reviewing the available options, Telkom has opted to adopt an alternative strategic direction and will no longer be pursuing the proposed joint venture transaction. This decision has been mutually agreed with Airtel Networks Kenya Limited," said Kibati.

The move has now forced the company to withdraw its earlier statement of firing as many as over 500 employees in its planned merger.

"Consequently, the Notice of Redundancy issued by the Company on 31st July 2019 is withdrawn and the earlier envisaged redundancies no longer apply," Kibati added.

According to Telkom, the company will now work towards accelerating digital transformation brought about by the recent dynamics of the COVID-19 pandemic, that has made both businesses as well individuals, acutely aware of the need to review direction, with respect to how we do things, and the need to step-up.

"The transformation dynamic also presents Telkom with a strategic advantage, to better position its infrastructure asset base and services, to support this digitisation and, in the mid to long term, bridge the consumer digital divide; connecting the unconnected by way of cutting-edge technologies such as Loon," reads Telkom Chief Executive Officer Mugo Kibati statement.

The statement comes as Telkom Kenya last month launched loon, 4G enabling balloons in partnership with American tech giant, Alphabet.

It now has the potential to expand its internet subscription by 4.8 million users.

Telkom Kenya accounted for 6.2 percent of the local mobile telecom subscribers' market as at December, behind second-placed Airtel, which had a 25.9 percent market share.

The two telcos, were seeking to challenge market leader Safaricom, sought a review of among other conditions, the order to not lay off any worker within the first two years or sell any assets of the resultant entity within the first five years.

Copyright Capital FM. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English

All news about TELKOM SA SOC LIMITED
09/23Telkom Openserve Reportedly to Get JSE Listing
CI
09/07TELKOM SOC : S.Africa's telecoms regulator halts spectrum licensing auction
RE
08/04Telkom Announces Executive Changes
CI
08/04South Africa's Telkom appoints insider Serame Taukobong as CEO designate
RE
07/23Sipho Maseko to Step Down as Executive Director of Telkom SA SOC Limited on 30 June 202..
CI
07/23Sipho Maseko to Step Down as the Group Chief Executive Officer of Telkom SA SOC Limited..
CI
07/01Telkom SA SOC Limited Announces Changes to the Board of Directors
CI
06/17TELKOM SOC : Media Statement - Committee Chairperson Extends Condolences to the Mabuza Fam..
AQ
06/11TELKOM SOC : S.African telecoms watchdog says likely to reach settlement with two firms by..
RE
05/24Telkom Sa Soc Limited Reports Earnings Results for the Full Year Ended March 31, 2021
CI
More news
Financials
Sales 2022 44 571 M 2 980 M 2 980 M
Net income 2022 2 781 M 186 M 186 M
Net Debt 2022 10 855 M 726 M 726 M
P/E ratio 2022 8,21x
Yield 2022 -
Capitalization 21 818 M 1 456 M 1 459 M
EV / Sales 2022 0,73x
EV / Sales 2023 0,67x
Nbr of Employees 12 039
Free-Float 56,3%
Chart TELKOM SA SOC LIMITED
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Technical analysis trends TELKOM SA SOC LIMITED
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 10
Last Close Price 44,07 ZAR
Average target price 54,01 ZAR
Spread / Average Target 22,6%
EPS Revisions
Managers and Directors
Sipho Nkosinathi Maseko Group Chief Executive Officer & Executive Director
Dirk Johannes Reyneke Group Chief Financial Officer & Executive Director
Matthews Sello Moloko Chairman
Althon Beukes Group Chief Information Officer
Deon Jeftha Fredericks Chief Investment Officer
Sector and Competitors