On The Money - In Brief
- Telkom South Africa and US-based AT&T signed a memorandum of understanding (MOU) that will see the operators collaborate in sub-Saharan Africa. The local telecoms giant explains the crux of the deal would be that AT&T would provide services for international customers across Telkom's networks in Africa.
- Converged communications player Westcon signed an agreement with Cisco that will see it become a global distributor. The deal means the subsidiary of locally-listed Datatec will provide Cisco greater access to the emerging markets, including Africa and the Middle East, South America and Asia.
- The JSE will get its first new listing worth R2bn this year, when Galela Telecommunications, owner of iBurst, is reverse listed into S&J Land Holdings in June. S&J Land Holdings is a shell with only R12.8m cash. The terms of the deal will be announced only after auditor, Ernst & Young has completed its audit but the new company will have two major assets: 86% of iBurst Africa and 28,7% of iBurst SA.