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ISSUE NO 39 ON THE MONEY

TELKOM APPOINTS ADVISOR FOR IPO

Telkom appointed the UBS Warburg Consortium as its financial adviser to guide it through its Initial Public Offering (IPO), in close collaboration with Government’s global co-ordinators. The UBS Warburg Consortium comprises UBS Warburg, African Merchant Bank and KREM, together with financial, retail and distribution partners. UBS Warburg will be the lead financial advisors, and other members of the consortium will be involved, provided no issues of conflict of interest arise.

The UBS Warburg Consortium will liaise closely with the Government’s global co-ordinators on the best structure for the IPO, including the form, quantum and geographical spread of the equity offering. Telkom’s RFP drew submissions from a broad range of consortia comprising many of the world’s leading investment banks, as well as South Africa’s major financial institutions.The selection process was overseen throughout by independent audit firm, KMMT Inc.

(source: Telkom)

HAPPY E-CHRISTMAS FORECAST FOR SA

E-tailers are gearing up for the upcoming Christmas season, hoping to benefit from a boom within South Africa’s relatively small internet community. And stakeholders are confident that the fourth quarter will be the biggest yet for SA e-commerce.

(source: Boot http://www.boot.co.za/news/dec00/xmas6.htm )

JOHNNIC REPORTS HIGHER THAN EXPECTED EARNINGS

Media and telecoms group Johnnic on Wednesday reported higher interim headline earnings per share and said it expected a continued growth in its earnings.

(source: Barney http://www.barney.co.za/reuters/dec00/johnnic7.htm )

MARCONI AND AFRICAN RENNAISSANCE CLINCH MAJOR DEAL

Telecoms equipment vendor Marconi Communications South Africa and black empowerment holding company African Renaissance have announced a deal which creates a cross-shareholding structure between them. Next stop: Telkom.

(source: ItWeb http://www.itweb.co.za/sections/business/2000/0012080706.asp

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