Vodacom plans big broadband push
Vodacom yesterday announced that it expected to list on the main board of the JSE on 5 May 2009. Currently Vodacom is owned 50% by Telkom and 50% by Vodafone Group Plc.
The listing of the company forms part of a number of interconditional transactions including the sale by Telkom of a 15% stake in Vodacom to Vodafone, increasing Vodafone’s interest in the company to 65% and, following the listing, the unbundling by Telkom to its shareholders of its remaining 35% in Vodacom.
As part of the listing, Vodacom said that its strategy was to be a leading total communications provider in sub-Saharan Africa. A strong focal point for the company will be broadband and data services: "Other than continuing to grow its core mobile business, Vodacom’s growth strategy is to lead in broadband connectivity and data services and to develop its converged services offering to consumers and corporate customers," Vodacom said.
Vodacom is currently the largest provider of mobile broadband services in South Africa with more than 600 000 customers and looks to continue to drive its leading position and expand broadband services into the rest of sub-Saharan Africa.
Vodacom CEO Pieter Uys said that the company was involved in rolling out fibre in South Africa and was also in discussions to develop a new submarine cable system. This, Uys said, would help Vodacom to remain the premier broadband provider in South Africa.
"The recent opening of a data centre in Johannesburg, a client services operation centre and recent acquisition of Storage Technologies Services and Gateway Communications affords Vodacom a solid platform to further develop its ICT business," Vodacom said.
Vodacom is also seeking out new growth opportunities in the media, entertainment and mobile advertising sectors as well as in mobile financial services. Vodacom has launched its own radio station, Yebo Radio, and has invested in online properties such as Zoopy.
Pieter Uys said: "Vodacom has many qualities which will contribute towards our growth objectives. Apart from our existing footprint and leading market positions, we have the number one telecommunications brand in South Africa. We have high quality networks and coverage, having led in the deployment of many new technologies. We have an unparalleled track record of innovation. We have an extensive distribution network with some 25 000 points of sale in South Africa alone. I believe we are very well positioned for the future."
Loading ...