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Submission + - How SBC (AT&T) pillaged South Africa's economy (busrep.co.za)

Kifoth writes: For 8 years, SBC and Telekom Malaysia controlled South Africa's only telecommunications company, Telkom. Telkom had a government granted monopoly in order for it to connect the large parts of South Africa which had been neglected under apartheid. Instead of helping, SBC abused their position and raised Telkom's prices to amongst the highest in the world. The billions they made here ultimately went to fund their AT&T merger.

"SBC, described as "congenitally litigious", is said to have played a major role in the failure of South Africa's telecoms policy to develop a competitive telephone service. Under SBC's control Telkom not only failed to meet its roll-out obligations but behaved "as a tax on industry and a drag on economic growth"."

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How SBC (AT&T) pillaged South Africa's economy

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The trouble with money is it costs too much!