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Telkom feels the pinch

9 June 2008
Telkom is dealing with increased competition and pricing pressures, which is visible in a drop in fixed-line voice revenue, both domestic and internationally, of more than R1 billion.

This is one of the main points to emerge from the company's annual results, released this morning.

According to CEO Reuben September, the company nonetheless recorded a 9% increase in operating profit for the latest financial year, as well as a 4.1% increase in EBIDTA due to “strong growth in mobile operations”.

September says the company's shareholder agreement with British operator Vodafone “has prevented Telkom from entering into the mobile markets” to the extent it has wanted to.

However, he says, “the discussion(s) with Vodafone, regarding the sale of our 50% stake in Vodacom, is intended to remove this impediment, as we are determined to put ourselves in a position where we can forcefully drive the creation of value for our shareholders”.

He adds: “The talks with Vod ...

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