May 27, 2008
Daily Podcast – May 27, 2008Back
© Reuse this Tuesday, May twenty-seven, 2008.
Making headlines today:
South Africa's biggest mobile phone operator, Vodacom Group, reported strong growth in profit for the year ended March, Telkom said on Tuesday.
Telkom said its mobile unit Vodacom had 34-million customers by the end of the period and that its earnings before interest tax and depreciation rose 15% to 16,5-billion rand.
The world's largest mobile phone group by revenue, Vodafone, owns a 50% stake in Vodacom, with the remainder held by Telkom, Africa's largest fixed-line telephone operator.
Indian number two Reliance quickly stepped into the void after bigger rival Bharti Airtel pulled out of talks with MTN at the weekend aimed at taking control of sub-Saharan Africa's biggest mobile operator.
A combination of MTN, valued at 38-billion dollars, and Reliance, valued at 28-billion dollars, would create a top ten global industry player to rival Japan's NTT DoCoMo Incorporated in market value. In terms of subscribers, a merged group would slot in just below Deutsche Telekom - as the seventh biggest in the world.
The Department of Water Affairs and Forestry said this agreement had secured the 7,4-billion rand water supply project to Limpopo province, of which the De Hoop Dam was a large component.
The project would ensure a sustainable supply of water for mining and commercial use, as well as for public use.
Also making headlines:
Green Scorpions target cement producers in latest compliance campaign
In political news:
US candidates ponder Iraq strategy
Edited by: Shannon de Ryhove© Reuse this Comment Guidelines (150 word limit)
Creamer Media Senior Deputy Editor Polity & Multimedia
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