Money News – In Brief

Mergers, Acquisitions and Financial Results

- Telkom South Africa, the dominant landline operator and newish entrant to the local mobile market has reported that its operating revenue for the past six months declined by 3.2% to R16.4 billion (US$1.99 billion).

- Starcomms Plc, one of  the CDMA operators in the Nigerian telecommunications industry has denied the rumours making rounds in the telecoms industry that it has opened discussion with another operator on the possibility of being acquired. The Chief Executive Officer of the company, Logan Pather, said "We are not discussing acquisition deal with anybody, but we will not rule out potential partnerships given the challenges in the telecommunication industry," he also assured stakeholders of the company of better days ahead, as the board and management are making dogged efforts to ensure better service delivery.