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June 17 (Bloomberg) -- Telkom South Africa Ltd., the continent’s biggest fixed-line network operator, was reduced to “sell” at Avior Research Ltd., which cited “generally disappointing” full-year results.
“The group has acknowledged that it needs to boost capex in order to improve the competitiveness and capacity of its data offering, which in our view is the only growth vector in the near term,” Johannesburg-based analysts Peter Coutromanos and David Lerche wrote in an e-mailed note to clients today.
The recommendation was reduced from “hold,” according to data compiled by Bloomberg.
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