Yesterday, Africa's largest mobile phone company MTN reported its half yearly earnings and the company said that its profits for the period has slid 10.3%. The main reason for the drop in profit was cited as the disruption in handset supply in the South African market due to a prolonged seven week strike.
On Wednesday, MTN Group, the largest mobile phone company of Africa reported a drop in its first half yearly profits. The company's profit dropped 10.3 percent. The slack results also can be partly connected to low handset supply in the South African market owing to the seven week strike by its workers
In an announcement, Vodacom said that it is appointing new Chief Financial Officer as the company's current CFO Ivan Dittrich, resigned in order to pursue personal business interests. He will leave his office on Friday and Till Streichert, will take over the position. He was the finance executive of the company's South African operations according to the group.
MTN SA, the South Africa telecom company's new CEO Mteto Nyati said, his priorities now include increasing the revenue and improving the customer services as the multinational mobile telecommunications company recovers from a severe strike.
Singapore Telecommunications, which is the biggest telecom operator of Southeast Asia in terms of revenue, is acquiring Trustwave.
Trustwave is a cyber-security firm based in the U. S. The deal will be worth $810 million. This will be Singtel's largest acquisition so far outside the prime telecom sector.
If reports are to be believed then the encryption keys used widely in mobile phone SIM could be an additional tool for the US and British spy services in their arsenal.
Telecom giant, Verizon Communications said that it will sell part of its wireline businesses in California, Texas and Florida, to Frontier Communications Corp. in a deal of $9.9 billion in cash. The lines being sold serves customers through TV, telephone and Internet. Frontier will also take $600 million debt of the company.
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