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Cash from the sale of the state's 13.91% stake in Vodacom - to the Public Investment Corporation, which acts for the Government Employees Pension Fund - will finance the multibillion-rand allocation to Eskom. The deal is believed to be worth nearly R29-billion.
Absa's investment banking division has acquired a 10% stake in Dark Fibre Africa, a company that installs, leases and sells broadband cables to local telecoms companies. The bank will also provide the company with some R950-million in loans.