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<p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'>In business the benjamins $$$$ decide who your bedmate is and not
the principles. Even your worst enemy in business harbors an opportunity.
Would like to see the outcome and interested to see whether the principle of
public good or even Critical infrastructure play a role here.<o:p></o:p></span></p>
<p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";
color:#1F497D'><o:p> </o:p></span></p>
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<p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span
style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>
Discuss-owner@afrispa.org [mailto:Discuss-owner@afrispa.org] <b>On Behalf Of </b>Eric
Osiakwan<br>
<b>Sent:</b> Sunday, October 21, 2007 12:39 AM<br>
<b>To:</b> discuss@afrispa.org; APC - Private list for use by EASSY Workshop
Participants; KICTAnet ICT Policy Discussions<br>
<b>Subject:</b> [AfrISPA.Discuss] It is more interesting in SA<o:p></o:p></span></p>
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<p class=MsoNormal><o:p> </o:p></p>
<p class=MsoNormal>Well, the mobile operators are buying the incumbent in
Joburg and the politicians are comfortable with the situation....really
interesting times<o:p></o:p></p>
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<p style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:.75pt;
margin-left:0in'><span class=apple-style-span><b><span style='font-size:10.5pt;
font-family:"Verdana","sans-serif";color:#00072F'>South Africa's Government
Backs Telkom Asset Sale to MTN</span></b></span><o:p></o:p></p>
<p style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:3.75pt;
margin-left:0in;line-height:14.25pt'><span style='font-family:"Verdana","sans-serif";
color:#00072F'>The communications department said it backed discussions between
Telkom and MTN over plans by the fixed-line operator to sell some of its
infrastructure to MTN.</span><o:p></o:p></p>
<p style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:3.75pt;
margin-left:0in;line-height:14.25pt'><span class=apple-style-span><span
style='font-family:"Verdana","sans-serif";color:#00072F'>A brief statement by
the department removes one of the main hurdles that any deal would face, since
the government holds 38,9% of Telkom.. "As government, we are in principle
supportive of the current discussions. We will await additional information in
this regard prior to commenting further."</span></span><span
style='font-family:"Verdana","sans-serif";color:#00072F'><br>
<span class=apple-style-span>The government is presumably now more au fait with
both parts of Telkom's plan, since the department is working "in an
interdepartmental task team to ensure that the interest of the country, all the
workers and those of shareholders is protected".</span></span><o:p></o:p></p>
<p style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:3.75pt;
margin-left:0in;line-height:14.25pt'><span style='font-family:"Verdana","sans-serif";
color:#00072F'>Analysts think MTN may combine its business in SA with Telkom's
fixed-line unit and spin that off in a publicly traded company. The new company
would be worth R55bn, and MTN might give its investors shares in the new
company, said Scott Ryall, an analyst for Macquarie Bank.</span><o:p></o:p></p>
<p style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:3.75pt;
margin-left:0in;line-height:14.25pt'><span style='font-family:"Verdana","sans-serif";
color:#00072F'>"Although we don't believe there would be significant
synergy from combining the two South African businesses, this transaction could
still be a positive for MTN," Ryall said.</span><o:p></o:p></p>
<p style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:3.75pt;
margin-left:0in;line-height:14.25pt'><span style='font-family:"Verdana","sans-serif";
color:#00072F'>An outright purchase by MTN of Telkom's fixed-line business
would be the "worst outcome for MTN and the best for Telkom" as it
would dilute MTN's growth and its attraction as an emerging markets company and
transfer the risk of owning a fixed-line network, Ryall said. However, Telkom
investors would benefit from a share price upside of up to 15%, he estimated.</span><o:p></o:p></p>
<p style='mso-margin-top-alt:0in;margin-right:0in;margin-bottom:3.75pt;
margin-left:0in;line-height:14.25pt'><span class=apple-style-span><span
style='font-family:"Verdana","sans-serif";color:#00072F'>A second option was
for Telkom itself to buy MTN's local operations after Telkom sold its shares in
Vodacom, Ryall said. MTN's growth in SA had slowed as the market became
saturated. Selling its local arm to Telkom may make MTN's operations in 20
other countries look more "appealing to growth investors ," Ryall
said. </span></span><span style='font-family:"Verdana","sans-serif";color:#00072F'><br>
<span class=apple-style-span>(Source: Business Day)</span></span><o:p></o:p></p>
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margin-left:0in;line-height:14.25pt'><o:p> </o:p></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Eric M.K Osiakwan<o:p></o:p></span></p>
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<div style='margin-left:15.0pt'>
<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Executive Secretary<o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>AfrISPA (<a href="http://www.afrispa.org">www.afrispa.org</a>)<o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Tel: + 233.21.258800 ext 2031<o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Fax: + 233.21.258811<o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Cell: + 233.244.386792<o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Handle: eosiakwan<o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Snail Mail: Pmb 208, Accra-North<o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Office: BusyInternet - 42 Ring Road Central, Accra-North<o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Blog: <a href="http://blogs.law.harvard.edu/eric/">http://blogs.law.harvard.edu/eric/</a><o:p></o:p></span></p>
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<p class=MsoNormal><span style='font-size:9.0pt;font-family:"Helvetica","sans-serif";
color:black'>Slang: "Tomorrow Now"<o:p></o:p></span></p>
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color:black'><o:p> </o:p></span></p>
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