Author: Gugu Lourie
JSE-listed Blue Label Telecoms is to seek an urgent court interdict to stop members of the Information Communication and Technology Union (ICTU) from protesting outside its headquarters in Sandton. This is according to a notice of motion and founding affidavit seen by TechFinancials. Since Tuesday this week, the union has been protesting against retrenchments, parallel restructuring, and recapitalisation by Cell C. For more read: UNION THREATENS TOTAL SHUT DOWN OF CELL C OVER PROPOSED JOB CUTS ICTU is an affiliate of the South African Federation of Trade Unions (SAFTU), which is led by Zwelinzima Vavi. The union represents about 1,300…
The new BMW 128ti is positioned between the BMW 120i and the range-topping BMW M135i xDrive. With its specially tuned M Sport suspension and Torsen limited-slip differential, the new BMW 128ti sets its sights on the Volkswagen Golf GTI. The BMW 128ti will be made available to the South African market in the first quarter of 2021. The BMW 128ti carries over firmer anti-roll bars and anti-roll bar mounts with high preloads from the BMW M135i xDrive. Stiffer springs and shock absorbers adapted accordingly to provide excellent driving dynamics. In addition, the front-wheel-drive 128ti is around 80 kilograms lighter than the…
The dynamic new Jaguar XF gets a new look with seamlessly integrated, connected and future-proof technologies. The executive saloon has received a refined look on the outside, plus some much-needed updates inside. The exterior features a new front bumper with larger and lower air intakes for increased visual width. This visual width is enhanced by a wider front grille featuring a mesh design detail inspired by Jaguar’s heritage logo. The side fender vents now feature the iconic Leaper emblem, demonstrating the exceptional attention to detail found right across the vehicle. The XF has an all-new interior with a heightened luxury,…
Vivendi SA’s Canal+ buys a stake in pay-TV operator MultiChoice, the company informed investors on Monday. MultiChoice disclosed on the JSE that Canal+ has acquired 6.5% stake in the company. “As a publicly held company, MultiChoice regularly engages with its strategic partners and maintains an open dialogue with the investment community,” MultiChoice said. “The group’s policy is not to comment on its individual shareholders nor on its interactions with them. The company remains committed to acting in the best interests of all shareholders and to create sustainable long-term shareholder value.” Canal+ Group, the pay-TV subsidiary of France’s Vivendi, is “evolving from an…
The Information Communication Technology Union (ICTU) has threatened to shut down Cell C after the embattled mobile phone operator failed to reach an agreement with the union. ICTU has filed an urgent application at the Johannesburg Labour Court to stop embattled Cell C from carrying out processes that could lead to the retrenchment of workers. Cell C is facing off with the ICTU at the Commission for Conciliation, Mediation, and Arbitration (CCMA) regarding retrenchments. The ICTU, which is an affiliate of the South African Federation of Trade Unions led by Zwelinzima Vavi, is the sole worker representative at Cell C. The union…
The Information Communication Technology Union (ICTU) has filed an urgent application at the Johannesburg Labour Court to stop embattled Cell C from carrying out processes that could lead to the retrenchment of workers. Cell C is facing off with the ICTU at the Commission for Conciliation, Mediation, and Arbitration (CCMA) regarding retrenchments. The ICTU, which is an affiliate of the South African Federation of Trade Unions led by Zwelinzima Vavi, is the sole worker representative at Cell C. TechFinancials is reliably informed that ICTU filed the papers at the court yesterday. However, sources close to the matter say the urgent application…
The African Democratic Change (ADEC) has told bosses at Cell C to suspend plans to retrench workers and warned the embattled company that it faces a wave of country-wide protests if it goes ahead with job cuts. TechFinancials has it on good authority that the mobile phone operator is planning to retrench 40% of its junior management and semi-skilled staff. At the same time, Cell C is facing off with the Information Communication Technology Union (ICTU) at the Commission for Conciliation, Mediation and Arbitration. The ICTU, which is an affiliate of the South African Federation of Trade Unions led by Zwelinzima Vavi,…
Embattled Cell C is trying to appoint a managed services provider to handle its contract and broadband customers. If a deal is secured, the move will enable Cell C to hold onto its post-paid customers. Impeccable sources on Tuesday said Cell C was in talks with Comm Equipment Company (CEC), a handset financing company owned by JSE-listed Blue Label Telecoms. Blue Label Telecoms owns 45% of struggling Cell C, and as the biggest shareholder it is leading a process to recapitalise the business. TechFinancials sources say CEC is interested in taking over the servicing of Cell C’s contract and broadband…
Prosus Ventures (formerly Naspers Ventures) is investing in Pakistan-based on-demand transport and logistics platform, Bykea. The company wants to help Bykea to execute further on their vision to become Pakistan’s ‘Super-App’. Prosus has a primary listing on Euronext Amsterdam and a secondary listing on the Johannesburg Stock Exchange, and is majority-owned by Naspers. Today, Prosus companies and associates help improve the lives of around a fifth of the world’s population. Every day, millions of people use the products and services of companies that Prosus has invested in, acquired or built, including Avito, Brainly, BYJU’S, Codecademy, ElasticRun, eMAG, Eruditus, Honor, iFood,…
Vodacom has announced that it will offer the latest products from Apple, including Apple Watch Series 6, delivering breakthrough wellness and fitness capabilities, and Apple Watch SE, the ultimate combination of design, function, and value. The Vodafone-owned telco said customers will be able to order the Apple Watch Series 6 and Apple Watch SE from 2 October 2020. Apple Watch Series 6 Apple Watch Series 6 introduced a revolutionary Blood Oxygen feature that offers users even more insight into their overall wellness. It also delivers many notable hardware improvements, including a faster S6 System in Package (SiP) and next-generation always-on altimeter,…