12 December 2024

Telkom has suspended plans to sell part of its fibre business, Openserve, according to CEO Serame Taukobong.

The fixed broadband service offered by Openserve has helped drive the company’s half-year income - shares in Telkom reportedly rose after it reported that half-year adjusted headline earnings per share grew by 57.5%.

Taukobong has stated that discussions or investigations into partnerships for Openserve have been suspended and made it clear that Openserve will remain a core and critical part of the group’s strategy.

Telkom has been investing in migrating customers away from copper-based technology to faster, next-generation network (NGN) offerings such as fibre and 4G/LTE. NGN revenue now contributes 80.9% to operating revenue, up from 74.4% in the previous period, offsetting the impact of the group’s decision to ditch legacy services.