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Johannesburg - Rumours are rife that struggling Telkom Mobile is about to announce a life-saving deal with MTN, reports the Sunday Times Business.
According to the newspaper, insiders say that a joint venture deal has already been hammered out.
If true, this could bring relief to the struggling mobile unit that has apparently been haemorrhaging millions since late 2010.
For the six months to September last year, Telkom Mobile had a loss of R773m.
Fixed-line operator Telkom said in November last year that it was in talks with some parties over the future of its struggling mobile business.
It lags well behind market leader Vodacom and rivals MTN and Cell C.
At the time analysts put Cell C as the likely candidate to take over the business.
Results
MTN [JSE:MTN] expects an increase of between 25% and 30% in headline earnings per share and attributable earnings per a share for the year ended December 31 2013, when compared with the previously reported year.
The group said that earnings were positively affected by foreign exchange gains of approximately R1.1bn, mainly a result of R2.3bn exchange rate gain in MTN Mauritius partly offset by foreign exchange losses on certain operational working capital accounts.
The previous year had seen exchange losses of approximately R2.7bn, MTN said.
Corporate governance
Telkom SA announced last week that its suspended chief financial officer Jacques Schindehutte has repaid a R6m loan that a government watchdog said violated company law.
Telkom said last year that it loaned Schindehutte nearly R6m to purchase Telkom shares.
As a result, Telkom's chief executive, Sipho Maseko, will be required to attend a corporate governance course, the company said.
According to the newspaper, insiders say that a joint venture deal has already been hammered out.
If true, this could bring relief to the struggling mobile unit that has apparently been haemorrhaging millions since late 2010.
For the six months to September last year, Telkom Mobile had a loss of R773m.
Fixed-line operator Telkom said in November last year that it was in talks with some parties over the future of its struggling mobile business.
It lags well behind market leader Vodacom and rivals MTN and Cell C.
At the time analysts put Cell C as the likely candidate to take over the business.
Results
MTN [JSE:MTN] expects an increase of between 25% and 30% in headline earnings per share and attributable earnings per a share for the year ended December 31 2013, when compared with the previously reported year.
The group said that earnings were positively affected by foreign exchange gains of approximately R1.1bn, mainly a result of R2.3bn exchange rate gain in MTN Mauritius partly offset by foreign exchange losses on certain operational working capital accounts.
The previous year had seen exchange losses of approximately R2.7bn, MTN said.
Corporate governance
Telkom SA announced last week that its suspended chief financial officer Jacques Schindehutte has repaid a R6m loan that a government watchdog said violated company law.
Telkom said last year that it loaned Schindehutte nearly R6m to purchase Telkom shares.
As a result, Telkom's chief executive, Sipho Maseko, will be required to attend a corporate governance course, the company said.
