Company Data
| Last traded |
R133.15 |
| Change |
R0.85 |
| % Change |
0.64% |
| Cumulative volume |
3.39m |
| Market cap |
R250.98bn |
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May 25 2012 19:13
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The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Cairo - Egyptian mobile firm Orascom Telecom said it had no new details to announce on talks over a sale of assets to MTN, after Egypt's bourse asked it for clarity following a jump in its shares.
"There are talks with the South African company MTN,[JSE:MTN] and this is what we have divulged before," Orascom said in a statement on Monday published by the bourse. It added it did not want to disclose more details to avoid encouraging competing offers.
The bourse had requested clarity on any material news that might have moved Orascom's share price on Sunday, which surged 12%.
Traders cited talk that a deal to sell some of Orascom's African assets to MTN would be announced soon.
MTN said on April 28 it was in talks to acquire all or some of Orascom's assets including Orascom's Algerian unit Djezzy. The Algerian government stymied any deal from going ahead when it claimed it had the right to bid on Djezzy first.
Analysts said Djezzy was the deal's key component, and the Algerian veto cast doubt on the chance of a larger sale.
On Sunday Egyptian daily newspaper al-Mal quoted Orascom Executive Chairman Naguib Sawiris as saying he expected the outcome of talks with MTN to be clear within a week.
An Orascom official said the interview took place on May 24, and that the results of the talks should be clearer within days.
Trade on Orascom's shares was calmer by 09:00. The stock dipped 0.3%, while the main index was down 1.3%.