Telkom has informed shareholders that it will forge ahead with its High Court case to overturn the recent spectrum auction.
“The auction fee due is the full amount relating to 3500MHz and the proportional payment for 800MHz that is immediately available,” Telkom stated.“Icasa will communicate an update on the full availability of the 800MHz, after 1 July 2022,” said Telkom.
Telkom advised shareholders that it expects to make the R1.1 billion payment in the current financial year, which will impact the current year’s debt level, capital expenditure, and free cash flow. “Telkom year-to-date free cash flow is in negative territory, tracking below its expectations,” the company reported.
“Notwithstanding the financial impact, Telkom has adequate capacity on its balance sheet to fund the spectrum while maintaining sufficient headroom of its loan covenants.” Telkom said the long-term strategic benefits of the spectrum acquisition outweigh the short-term financial impact.“The 20MHz of 800MHz, once available, will enable more efficient network deployment, increased coverage, and capacity on the mobility layer resulting in improved user throughput and experience, particularly in rural areas.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
KZN police on high alert amid threats of violence, officer injured in Durban shootoutThe threats were circulated on social media using voice notes and other messages.
Read more »
SA Human Rights Commission clears Brackenfell High School of any racismThe South African Human Rights Commission says those aggrieved by its findings in the Brackenfell High School matter must challenge it in court.The Commissio...
Read more »
Two robbers killed in high-speed police chase on Durban highwayTwo robbers were killed while three others survived a car crash during a high-speed pursuit by police in Durban..
Read more »
KZN police on high alert amid voice notes threatening violence against foreign-owned shops | News24KwaZulu-Natal police are on high alert to ensure safety following the posting of voice notes and messages threatening violence and criminality. | CebohNyambose
Read more »