The sale will provide Telkom with a warchest of more than 10 billion rand, which it wants to use tobecome Africa's leading fixed, mobile and data service provider. The sale will give Telkom the cash to possibly buy outrightanother mobile operator some analysts have speculated itmight look at South Africa's No. News of the acquisition helped boost shares in Telkom, whichhad gained 1.09 percent to 112.72 rand by 1414 GMT,outperforming the Top-40 index .JTOPI, which was down 1.42percent. Rajay Ambekar, a telecoms analyst at Cadiz African Harvest,said the acquisition of the 25 percent stake made strategicsense but that Telkom may be paying over the odds.
"The price it paid seems a bit steep," he said, noting theNigerian naira had weakened substantially against the dollar inrecent months and that telecom assets have fallen in value giventhe global financial crisis. In May 2007, Telkom acquired 75 percent of Multi-Links for$200 million. "I guess they have to show us why they have overpaid,"Ambekar said. "But with 100 percent control they can probably dovarious things that can increase the value of Multi-Links." Multi-Links increased its subscribers to 2.11 million byOct 31 from 1.78 million a month earlier. It benefited from thelaunch of broadband EVDO, an equivalent of 3G technology. MTN, Sub-Saharan Africa's biggest mobile phone operator, hasmore than 18.6 million subscribers in Nigeria, its biggestmarket. Telkom is also expected to make an announcement about thesale of part of its stake in pay-TV division Telkom Media by theend of this month.
Telkom, which has a 66 percent stake in Telkom Media, saidin June it was selling its stake and had identified a potentialinvestor to buy a substantial portion of it. (Reporting by Gugulakhe Lourie and Serena Chaudhry, editing byWill Waterman). ) Recently, there had been some talk of moving the Georgia-Florida (sorry, Florida-Georgia...or, oh, wait...the Worlds Largest Outdoor Coc- okay, I'll stop) game out of Jacksonville and possibly into other venues for the future.These talks have not gone through, and have spurred mixed emotions from Georgia and Florida fans a like.Some of the potential possibilities discussed have been playing a home and away series for once. Another was to play a home and away every other year (ex: Jacksonville, Athens, Jacksonville, Gainesville).Some even considered bringing the game to the Georgia Dome, which is bringing in huge bucks to the Atlanta area with its Chik-Fil-A kickoff games. There is nothing like seeing that 50-50 division or red and blue.