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Monday, November 17, 2008.
From Creamer Media in Johannesburg, I'm Shannon O'Donnell.
Making headlines today:
On Monday, JSE-listed fixed-line operator Telkom said there was an urgent need for the re-positioning of fixed line in today's "extremely competitive" environment.
Telkom CEO Reuben September said that the fixed line's strength in the data market and the need to combat fixed-mobile substitution, led to the board recommending to shareholders the sale of 15% of Telkom's stake in Vodacom to the Vodafone Group. He said this also led to the further unbundling of the remaining 35% stake in Vodacom to Telkom shareholders.
September said the company's strength was its network and it intends to use the proceeds to leverage this strength for the benefit of all stakeholders.
He said Telkom would accelerate the expansion of its network, including the Next Generation Network, as well as selectively build a mobile network and explore acquisitive opportunities, particularly in the data centre arena.
On Friday, the South African National Roads Agency Limited raised 1-billion rand through its third bond auction on the domestic market.
The agency was raising money to fund new toll road infrastructure in Gauteng, as well as for upgrading and improving existing roads.
This was the first time since July that 1-billion rand has been raised in a single bond market transaction.
Also making headlines:
The JSE considers a higher purchase offer for the Bond Exchange of South Africa.
Botswana's inflation slows in October on fuel cuts.
South Africa intensifies its counterfeit crackdown as the 2010 World Cup draws near.
And, an industry expert says biofuels are still viable despite a lower oil price.
That's a round up of news making headlines today. For more on these and other stories please visit engineeringnews.co.za.