Business
South Africa Telkom South Korea KT partnership not happening
Friday, June 1, 2012
Faced with stiff competition among mobile and Internet companies in South Africa, Telkom has suffered as it tries to broaden its products and expand into the rest of Africa.
But its venture in Nigeria turned disastrous, resulting in a loss of US$1 billion.
South Korea’s KT, formerly a state-run fixed-line telephone company, has expanded into new technologies and non-communication businesses such as finance and media.
Copyright 2012 AFP.
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