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May 25 2012 19:13
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May 25 2012 13:58
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49 minutes ago
As far as repayments on home loans are concerned, South Africans are in a much more favourable position than their foreign peers.
Johannesburg - South Africa's telecommunications regulator said on Wednesday it had granted Telkom, media firm Hosken Consolidated Investments and two smaller companies new pay-TV licences.
Telkom applied for the licence to run a pay-TV service as it tries to diversify its revenues and challenge Naspers' decade-old pay-TV monopoly.
Telkom also faces tougher competition in its core voice business from new rival Neotel and from cellphone operators.
The other two unlisted firms to win the licences under the bid round were Walking on Water Ltd and On Digital Ltd, the Independent Communications Authority of South Africa (Icasa) said at a ceremony in Johannesburg.
Icasa said it would in three weeks time give reasons behind its decision to award licences to the four companies.
There were 18 initial bidders in the process, Icasa said.
"We expect to be in the market within the next 12-16 months," said Connie Molusi, chairperson of Telkom's Media pay-TV service.
HCI, which controls casino and hotel company Johnnic Holdings also has a majority stake in commercial TV broadcaster e.tv.
Africa's biggest media company Naspers has a dominant position on pay-TV on the continent with its more than 55-channel DStv network, but South Africa's communications regulator invited bids for licences from other would-be broadcasters.
- Reuters