Vodacom revises earnings forecast downwards following landmark Please Call Me settlement

Vodacom said the matter was settled by the parties out of court, but did not disclose the rand amount of the agreement

- EDWARD WEST

NKOSANA Makate and Vodacom have settled an 18-year legal dispute, for an undisclosed sum, for his "Please Call Me" idea that he claimed Vodacom had not compensated him for.

(TIMOTHY BERNARD African News Agency (ANA))

VODACOM has revised its earnings forecast downwards by around 17%, due to a “one-off event’, hours after it reported that a settlement had been reached in the Please Call Me court action.

Vodacom said the matter was settled by the parties out of court; the parties were glad that finality had been reached, and Vodacom did not disclose the rand amount of the settlement agreement, even though Business Report did question the telecom operator in this regard.