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Telkom Said to Be Close to $47 Million State Broadband Deal

  • South African landline provider in talks on broadband contract
  • Company would lead 750 million rand first phase of roll out
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Telkom SA SOC Ltd. is close to reaching an agreement with the South African government to start a 750 million rand ($47 million) first phase of broadband roll-out across Africa’s most industrialized economy, according to two people familiar with the matter.

There have been extensive discussions about the contract between Telkom, South Africa’s biggest landline provider, and the government, the company’s biggest shareholder with a 40 percent stake, said the people, who asked not to be identified as the contract hasn’t been finalized. Pretoria-based Telkom has carried out site inspections and studied how to implement the plan in eight districts, one of the people said.