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How SBC (AT&T) Pillaged South Africa's Economy

Posted by kdawson on from the privatization-trumping-liberalization dept.

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 that had been neglected under apartheid. Instead of helping, SBC abused their position and raised Telkom's prices to be among the highest in the world. The billions they made here ultimately went to fund their AT&T merger. From the article: '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."'"

1 of 270 comments (clear)

  1. Capatalism by Anonymous Coward · · Score: 0, Troll

    South Africa is not prepared and not used to Companies entering the market and exploiting us on such a scale. Our Governmental system and laws were not in place to protect humans from such a selfish act that 1 company can destroy our economy. Every South African hates Telkom for doing what they did, this leads to South Africans HATING American Companies for hurting so many millions of people, which in turn makes South Africans HATE Americans and HATE Captalism. South Africa is a SOCIALIST country. Captalism has reached its peak, and is now failing the human race. Socialism is the next evolutionary step towards Ultruism. America is falling behind, Europe has learned from has embraced Socialism, America is set it in it's ways and the AMerican people will always try and exploit anyone they know. Such a sad way to go through life.

    And please before I get flamed for disliking the American system and pure Capatalism, there is no price you can put on a human life. For such a "advanced" state you guys dont even have free medical and medicine. You guys hate each other so much that you can ACTUALLY put a price on human life? Thats sick. Everyone has the right to live, all medical should be free. I lives in America for 6 months, I hated it, I went back to live in London for another 5 years, then returned to South Africa where I am not living for the last 3 years.