Picture: Leon Nicholas.

Johannesburg - Shares in Telkom rise nearly 2 percent to an almost 10-week high, a day after a South African court ruled the local telecoms regulator can go ahead with cuts to mobile interconnection rates.

Under the court ruling, Telkom will pay less to carry calls from two top wireless firms - MTN Group and Vodacom - while the two mobile giants will pay more to carry calls from Telkom.

Telkom is up 1.8 percent at 34.25 rand, a level last seen on January 23 and outpacing a 0.7 percent gain in the broader JSE All-share index. - Reuters