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Feb 13 2012 12:15
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Johannesburg - South Africa's second national fixed-line phone operator (SNO) plans to launch at the end of this month, providing competition for state-controlled Telkom.
"The SNO is on track to switch on international wholesale services at the end of August and enterprise services by the end of this year," the company said in a statement issued late on Friday.
The SNO, which plans to launch consumer services by the end of the year, will provide the first fully-fledged competition to Telkom, which consumer groups accuse of over-charging and inflating the cost of doing business.
Shares in Telkom fell 0.3% to R133.40 by 09:27, lagging a slightly positive Top-40 index of blue-chip stocks.
The SNO's shareholders include Transtel, a unit of state-owned logistics group Transnet, and India's Tata group.
The company also said it had agreed a deal with the government giving it access to an inter-city cable network owned by state-owned powert utility Eskom and Transnet.
Transnet has also sold a major chunk of its Transtel assets to the SNO, including a fibre optic network in major cities.
The SNO has been delayed due to shareholder wrangling and some industry groups say the government - which owns 37.7% of Telkom - has also dragged its feet.