Related Articles
Top Stories
May 25 2012 19:13
Uncertainty over the future of the euro zone returned to push the rand down against the dollar.
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
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 Telkom SA Ltd has appointed Jeffrey Hedberg, the former CEO of cellular firm Cell C, to run and revamp its loss-making Nigerian private phone operator Multi-Links.
Telkom said in a statement Hedberg, an American who joined South Africa's No. 3 operator Cell C in 2006 with the mission of turning it around, would be charged with making Multi-Links Ebitda (earnings before interest, tax, depreciation and amortisation) positive by the 2010/11 financial year.
"Turning around Multi-Links' performance is vital to Telkom given the extent of the group's investment and the enormous opportunity the Nigerian market provides," CEO Reuben September said in a statement.
"We expect Multi-links to be Ebitda positive by 2010/11 and become cash flow positive by 2011/12," he added.
Multi-Links was touted as a big money-spinner when Telkom bought it two years ago thanks to Nigeria's vast untapped telecoms market. But it reported an Ebitda loss of R226m in the year to end March and a net loss of R1.76bn.
- Reuters