JOHANNESBURG: Africa's biggest mobilephone operator, MTN, plans to lay off at least 400 staff in South Africa to cutcosts as the recession bites.The company, which operates networksacross Africa and the Middle East, said on Monday it would cut both permanentand temporary workers because it was becoming more efficient and because of afall in customer numbers. Temba Nyathi, MTN Group's human resources...
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JOHANNESBURG:Africa's biggest mobile operator MTN plans to lay off at least 403 employeesacross divisions of its business, a South African newspaper reported onMonday.Thenewspaper said that the telecoms giant, which operates mobile phone networksacross Africa and the Middle East, told its workers in an e-mail on Friday itwould start laying off employees in its South African business from December1.Itsaid...
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DELHI—After the collapse of a $24 billion merger deal with MTN Group Ltd. at the eleventh hour, Bharti Airtel Ltd., India's biggest wireless telecommunications company, remains interested in targets in Africa but will be more cautious in its pursuit of a partner and sees only limited options, the company's chairman said.In an interview, Sunil Bharti Mittal, chairman of Bharti Group, which includes...
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Johannesburg, Nov 16: Africa's leading mobile operator MTN is planning to lay off at least 403 employees across divisions of its business, a South African newspaper reported on Monday, Nov 16."The telecoms giant told its workers in an email on Friday, Nov 13 it would start laying off employees in its South African business from Dec 1," The Times daily reported.According to the report, MTN also planned...
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Country's leading telecom services provider Bharti Airtel Ltd today said the company is not looking for acquisitions in the immediate future after it talks to acquire a 49 per cent stake in South Africa's largest telco MTN failed.''We are taking a break'', Chairman and Managing Director Sunil Mittal told reporters here on the sidelines of the World Economic Summit.The deal size between Bharti Airtel...
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There have been too many explanations and theories floating around as to why the much-hyped Bharti-MTN deal fell through. To get a grasp of factors leading to the failed deal, it is imperative to understand what the South African government felt and how public opinion was moulded in that country. This is especially since trade and business relations between the two nations, and indeed between India...
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After State Bank of India’s recent $750-million medium-term note (MTN) issue, the country’s largest private sector lender, ICICI Bank, might be looking at an overseas bond issue.The lender has lined up a series of meetings in the United States and the United Kingdom next week to gauge investor appetite. It has appointed Bank of America-Merrill Lynch, Credit Suisse and HSBC for investor updates.The...
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Country's leading telecom services provider Bharti Airtel Ltd today said the company is not looking for acquisitions in the immediate future after it talks to acquire a 49 per cent stake in South Africa's largest telco MTN failed.''We are taking a break'', Chairman and Managing Director Sunil Mittal told reporters here on the sidelines of the World Economic Summit.The deal size between Bharti Airtel...
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Johannesburg, Nov 12 (Bloomberg) MTN Group Ltd.?s SouthAfrican operations have experienced a 30 per cent decline inSIM-card sales since August as a result of the implementationof a new law that requires mobile-phone owners to registerwith an operator.Zolisa Masiza, group executive of regulatory affairs,commented on the decline in sales at a conference in Cape Towntoday.Chennai...
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Bharti Airtel chairman Sunil Mittal said on Sunday that the company was not actively seeking acquisitions after its $23 billion planned tie-up with South Africa's MTN collapsed."Hopefully sometime soon," Mittal said, replying to a question whether the company was looking at new buys. "We are taking a break."A newfound assertiveness and an absolute faith in their choices are what marks the child of...
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