Rob Forsyth News
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Vodafone Group Plc’s South African unit Vodacom should lead its African expansion if it is to narrow the gap with MTN Group Ltd., which has capitalized on its rival’s inertia to build a business three times its size, Investec Asset Management said.
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MTN Group Ltd. fell to the lowest in more than three weeks after Turkcell Iletisim Hizmetleri AS sued its Johannesburg-based rival for $4.2 billion in damages yesterday in a federal court in Washington.
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Telkom South Africa Ltd. , which dominates Africa’s largest fixed-line phone market, may resist investor wishes that it slash jobs under pressure from its biggest shareholder: The government.
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MTN Group Ltd., Africa’s largest wireless operator, fell to the lowest in more than two months after the Sunday Times reported police may probe bribery allegations made against the company.
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JD Group Ltd. , a South African furniture retailer, fell the most in nine months in Johannesburg trading after agreeing to buy two divisions from Steinhoff International Holdings Ltd. while selling it a 26 percent stake.
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Shareholders owning about 20 percent of Avusa Ltd. are against a 2.7 billion-rand ($403 million) bid for the South African media company by Capitau Holdings Ltd., the Sunday Times said, citing Gavin Wood , chief investment officer for Kagiso Asset Management, which holds a 12.5 percent stake in Avusa, and Rob Forsyth , head of industrials at Investec Asset Management, which holds about 5 percent of Avusa.
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The following stocks may rise or fall in South Africa . Symbols are in parentheses and prices are from the last close.
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