Rain shareholder African Rainbow Capital (ARC) Investments has valued the wireless broadband upstart at R22.2-billion, nearly twice Telkom’s current market capitalisation. Rain, which makes up 27.6% of ARC’s ARC Fund portfolio (it also includes its stake in TymeBank), raised the value it places in its 20.3% stake in the company by R881-million over the past year...
Data-only network Rain is looking to rake in R2 billion in earnings, as it forges ahead with plans to “soon” launch a mobile offering. This emerged when Rain’s shareholder, billionaire Patrice Motsepe-controlled African Rainbow Capital (ARC) today published its interim financial results for the six months ended 31 December 2022. In a statement, ARC says...
Telkom and Rain have terminated discussions relating to Rain’s proposal to merge with the majority state-owned telephony group. This, after the African Rainbow Capital-owned data-only network Rain boldly expressed interest in merging with Telkom, in a non-binding proposal last September. MTN had previously initiated early stage discussions in a bid to also merge with Telkom. The talks...
Following the collapse of discussions between MTN and Telkom, Rain said it remains engaged with Telkom about a possible deal. Wireless broadband operator Rain said on Wednesday 19th October that it remains engaged with Telkom about a proposed acquisition. This comes after Telkom and MTN Group told investors earlier in the day that their proposed deal...
Rain has formally made a non-binding proposal to Telkom that would see the latter acquire the former through the issue of new Telkom shares. Telkom told shareholders on Friday that it received the proposal from Rain on 14 September, or more than two weeks ago. “The Telkom board is evaluating the Rain proposal and is not...
Communications regulator Icasa has imposed new universal service obligations on mobile broadband operator Rain after it was awarded access to spectrum in the coveted 1.8GHz band. Rain must now provide connectivity to 63 community education and training colleges (CETs) and 54 community learning centres (CLCs), allocated by Icasa, over a period of three years. The company...
Rain has expanded its 5G network to eight new towns and cities in South Africa. “We are busy rolling out the 5G network to all parts of South Africa including small towns,” a Rain spokesperson told MyBroadband. The cellular network operator says it also added to its existing coverage in the Cape Town and Johannesburg...
Telecommunications operator Rain has enjoyed a surge in demand for wireless broadband in the past year thanks to the lockdown and work-from-home measures. It now plans to bid for more spectrum. Shareholder ARC Investments disclosed on Tuesday that Rain has “continued to surpass expectations in terms of performance and has managed to sustain its high level...
Rain says the delay in SA’s spectrum auction process is working in its favour, as it capitalises on the opportunity to aggressively rollout its 5G strategy this year. The data-only mobile network operator, which in September 2019 was Africa’s first telco to deploy a commercial 5G network, currently has the widest 5G coverage in the...
Rain, the first operator in South Africa to deploy a commercial 5G network, plans ultimately to roll out 2,000 5G high sites across South Africa’s main urban centres, although there is no timeframe for the build. This was disclosed in shareholder African Rainbow Capital Investments’ interim financial results for the six months to 31 December 2020,...
