Data provided by iNet BFA
Loading...
See More

MTN boosts subscribers

Oct 28 2010 13:17 Reuters

Company Data

TELKOM SA SOC LIMITED [JSE:TKG]

Last traded 49.16
Change -0.05
% Change 0.00
Cumulative volume 230743
Market cap 25.60bn

Last Updated: 28/07/2014 at 03:40. Prices are delayed by 15 minutes. Source: McGregor BFA

MTN GROUP LIMITED [JSE:MTN]

Last traded 222.52
Change -0.27
% Change 0.00
Cumulative volume 1223071
Market cap 411.64bn

Last Updated: 28/07/2014 at 03:42. Prices are delayed by 15 minutes. Source: McGregor BFA

VODACOM GROUP LIMITED [JSE:VOD]

Last traded 127.10
Change 1.59
% Change 0.01
Cumulative volume 499619
Market cap 189.12bn

Last Updated: 28/07/2014 at 03:43. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Vodacom eyes big turnaround

MTN laughs off Dubai rumours

Renewed interest in MTN

MTN Group appoints new VP

Icasa gives nod to rate cuts

MTN BEE offer 1.7 times subscribed

 
Johannesburg - MTN Group [JSE:MTN], Africa's biggest mobile operator, increased its subscribers by 4% in the July-September third quarter, overcoming intense competition and price cuts from rivals.

The company also lifted its forecast for new users this year to 22.9 million, from 21.1 million.

MTN, which operates mobile phone networks across Africa and the Middle East, said it had 134.4 million users at the end of September, compared with 129.2 million at the end of June.

Shares in MTN were 0.12% lower at R123.70, lagging behind Johannesburg's Top-40 index of blue chips, which was 0.68% firmer.

JSE Top-40 index of blue-chips. The stock has risen about 5% so far this year.

MTN is gearing up for competition from rival Bharti Airtel in Africa, which is waging a price war and plans to spend a total of $1.1bn over the next three years on network upgrades in its sub-Saharan business.

Bharti acquired the African assets of Kuwait's Zain this year.

MTN also faces competition from Vodafone, which has units such as South Africa's Vodacom Group [JSE:VOD]. In South Africa it also faces new competition from a new entrant 8.ta, the mobile phone unit of Telkom [JSE:TKG], which was launched this month.

Competition is also hotting up in MTN's key market of Nigeria, one of the world's fastest growing telecoms markets. Its Nigerian unit recorded a 5.1% rise in new customers to a total of 36.8 million

vodacom group  |  mtn group  |  telkom
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

No more nice-to-have shopping sprees

Fin24 user Asia writes how she managed to rehabilite herself from splurging on feel-good iitems and keep clean from the bondage of lifestyle debt.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...