Telkom is not going to sell any part of the organisation but will, instead, focus on building new fixed wireless and mobile infrastructure that will enable it to be more competitive in the South African market.
The telecomms group today said in a statement that the "disposal of Telkom or any of its subsidiaries, joint ventures or any parts thereof will not be considered by Telkom without a compelling strategic rationale."
It had been reported earlier that Telkom was considering the sale of a stake to Saudi Arabia's Oger Telecomms, but this has been declined.
Instead, the organisation has decided to "invest in the build of a fixed-wireless (voice and data) and a mobile data network. The timing, extent and implication of the roll-out of this network will be communicated to shareholders in due course."
Telkom has also decided to substantially reduce its investment in the PayTV licencee Telkom Media.
There was no comment on Vodacom's proposed BEE transaction, except that the board is supportive of it.