JOHANNESBURG, June 8 (Reuters) – South Africa’s Telkom
plans to spend between 18-22 billion rand ($2.17-2.65
billion) on capital expenditure over the next three years and
tap debt capital markets for part of the funds, its chief
financial officer said on Friday.
“It’s not going to be a huge amount, probably between 4 and
6 billion rand,” Jacques Schindehutte told Reuters after the
company’s result presentation on how much it will seek from
capital markets.
Telkom, the biggest fixed-line phone operator in Africa,
earlier reported a 33 percent drop in full-year earnings, hit by
tough competition and burdensome costs from its new mobile arm.
($1 = 8.3007 South African rand)
(Reporting by Tiisetso Motsoeneng and Tebogo Mahlaela, writing
by Agnieszka Flak; Editing by Jon Herskovitz)
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