SHARE REPURCHASES
Telkom rises after R751m buyback
20 February 2018 - 05:54
Telkom’s share price rose 2.7% on Monday after the company said it had spent R751m on buying back its own shares. The communications and information technology group said it had bought 15.8-million shares last week, or 3% of its issued share capital, using cash. It paid an average price per share of R47.87 and bought the shares on the open market. Telkom’s share price also rose 2% last Friday. A Telkom spokesperson said the weak share price since mid-November had "presented an opportunity to create value for our shareholders through a share-repurchase programme".
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