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South Africa’s Telkom says it can fund $144 million cost for spectrum

South Africa’s Telkom says it can fund $144 million cost for spectrum

TELKOM said it had enough room on its balance sheet to pay 2.1 billion rand ($143.73 million) for bands of radio frequency spectrum it bought in a recent auction, despite negative free cash flow that tracked below expectations. The South African firm, 40% owned by the government, and fellow telecom operator Rain won the first round of bidding in the auction held earlier in March. Operators have been waiting for over a decade for spectrum licenses needed to lower data costs, roll out 5G and add 4G network capacity. Telkom purchased two chunks of 10 MHz in the 800 Mhz…
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