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Yeah but the thing is, the fibre subscriber growth is actually moving now and that's where the real margin…by @jozi_janet on $TKG

JA
Janet M.@jozi_janet·Bearish

Yeah but the thing is, the fibre subscriber growth is actually moving now and that's where the real margin upside sits long term. Fixed line's a zombie but if they can stabilise the mobile base while fibre ramps, the debt comes down naturally. Vodacom's probably still the better business but they're equally hammered by the load-shedding and consumer squeeze right now, so 54.59 feels like you're not paying a crazy premium for the network assets Telkom's got.

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