Telkom is seeking to stop beneficiaries of its earlier R6-billion empowerment deal from bidding for its 7.5% shareholding in Vodacom. 

Business Times reports that Telkom has expressed concern about the number of these beneficiaries who are now in the running for a stake in the R7.5-billion Vocacom empowerment deal.
It adds that Telkom’s move to exclude beneficiaries of its own empowerment deal would scupper any bid involving businessman and former department of communications director-general, Andile Ngcaba, the ANC’s Head of the Presidency Smuts Ngonyama, and woman’s empowerment group Wiphold, headed by Gloria Serobe. They are part of the Elephant Consortium which secured a 15.1% empowerment stake in Telkom.
There are about 60 bidders for the Vodacom empowerment stake at present and the Vodacom board is expected to meet within the next two weeks to whittle this down to a shortlist of three.