Isp Falls Out With Its Shareholders

[rpm]

http://www.mybroadband.co.za/nephp/?m=show&id=305

"Nedcor and Old Mutual, which together own 40% of Dimension Data subsidiary Internet Solutions (IS), are switching their networking business to Telkom and Computer Sciences Corp (CSC) as relations between the two financial services groups and the Internet service provider, SA's biggest, sour."

 

[quik]

Is this what we can expect from the "New Mutual"? (heard any annoying Radio Adds lately )

 

[bb_matt]

Good call IS !

 

[mancombseepgood]

Looks like I need to consider the alternative to Old Mutual

Any financial advisors / brokers want to sell me a new medical aid, household and vehicle insurance, an RA, personal insurance for myself and my wife, give me a call - OLD MUTUAL CAN STICK THEIR POLICIES if they think I will support Telkom indirectly... at least as far as I can avoid it I will - anyone with me? HEAR THIS OLD MUTUAL??? Probably not bothered - figures...

 

[stoke]

Erm - /me places the blame completely at DIDATA's + GovMint's feet.
They've (DiData) been leeching off of IS's success for how long now ?

And now the bastards get to buy the rest of the shares, puts them back in the control seat. Bye bye IS. More power to teklom. Wonder how ANC got this one right. Oh yea - Affirmative Action placements. I forgots. Standard practice.

Power to Teklom the Trojan horse of Africa !!!

 

[rsd]

*adds old mutual to list of companies to not touch with a stick*

 

[eye_suc]

Isnt Didata's ceo the guy that stole the Telkom shares? So then its obvious why they would rather use Telkom: To make the basTurd richer

 

[Karnaugh]

You seem mistaken, DiData is a parent company of IS. It isnt DiData that ditched IS, its Nedcore that ditched DiData AND IS as their service provider.

Didata has a pre-emptive right to purchase the 40% stake, though other parties have expressed an interest. According to the FM's source, they include Altech, MTN and Vodacom. However, it seems likely that Didata will exercise its right to the stake. IS is one of the IT group's most profitable subsidiaries. One analyst calculates that it contributed a significant proportion of Didata's profit before tax in the six months to March 31 - perhaps as much as 60%.

 

[eye_suc]

Whoops! But now that i read it through, it sounds even worse!

 

[DVDA]

I've always hated Nedbank and their holier-than-thou attitude. Now I just hate them more.

 

[ScrnScrm]

and you heard all of this here first on myadsl

http://www.mybroadband.co.za/vb/showthread.php?t=19496&page=2&pp=15

Now for my next trick : I have it on good authority that Telkom won the deal by using under handed tactics, suprise suprise. They reviewed the Telkom pension funds at the same time. Now, Telkom pensions represent huge revenue for Old Mutual, and they didnt want to p1ss Telkom off...
*sigh*
Nevermind, IS have won the Shoprite account, stolen straight from under Telkoms nose