Only Telkom among major South African telecoms saw its share price rise in 2023, thanks to lower spending on backups for power outages and benefiting from rivals’ upgrades. Vodacom and MTN both fell due to power disruptions and tighter consumer spending. Blue Label, tied to struggling Cell C, suffered the biggest drop.Pepkor, Africa’s largest clothing retailer, is exploring a potential takeover of South African rival Edgars, according to people familiar with the matter.
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