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Telkom South Africa Halts Fibre Sale Amid Strong Half-Year Results

November 20, 2024
1 min read
Author: Aayushya Ranjan

Telkom South Africa suspended plans to sell its fibre business as fixed broadband drove half-year earnings growth, with shares rising 5.48% amid a 57.5% profit surge.

Telkom South Africa has suspended plans to sell part of its fibre business, citing its pivotal role in driving half-year financial growth. The company, majority-owned by the government, reported a 57.5% rise in adjusted headline earnings per share, Reuters  has reported.

The announcement boosted Telkom’s shares by 5.48%, reflecting investor confidence in its decision to retain the high-growth fibre segment. CEO Serame Taukobong highlighted the importance of fixed broadband in supporting the company’s strategy and South Africa’s digital transformation.

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