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Telkom sell-off appears less likely

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It appears that the proposed sale of Telkom to fund the embattled South African Airways (SAA) could be off the table.

Telkom today withdrew the cautionary announcement released on 30 August 2017.

The announcement stated that Telkom’s major shareholder, the government of the Republic of South Africa was considering various strategic options with regards to partially reducing its current approximate 39% shareholding in Telkom.

However, Telkom states that it is “not aware of any current decision taken by the government with regards to its shareholding.

“Therefore, Telkom is withdrawing the cautionary announcement and caution is no longer required to be exercised when dealing in Telkom’s securities.”