David versus Goliath — A tale of two telecommunications companies

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The newly formed FibreCo, which owns Vumatel and DFA, is now worth more than double Telkom’s market cap. Here is a look at the two companies.

On Tuesday, 14 June 2022, Telkom released its annual financial results for the year ended 31 March 2022, revealing a company struggling to grow.

Telkom CEO Serame Taukobong highlighted that in the second half of the year, fixed broadband subscribers increased for the first time in several years despite the decline in ADSL subscribers. CIVH is the holding company of Dark Fibre Africa and Vumatel, which, in turn, is managed under the newly formed FibreCo.

Vumatel also has a 48% stake in Herotel which plans to reach 440,000 homes with its fibre network. Herotel currently has 65,000 fibre customers and 71,000 wireless subscribers. Vodacom will also contribute its fibre assets to FibreCo at a valuation of R4.2 billion for FibreCo shares.

 

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nice piece but vumatel has been a problem in my community of Vosloorus. Even now, we haven't had Internet since 3am. It used to be once a month. Now, it's once or twice a week. TelkomZA needs to convert their existing ADSL lines, so, we can have more options here.

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