State may want to cash in on Telkom growth spurt
Telkom has been one of 2019’s sleeper success stories
Does anyone in the finance ministry keep an eye on the stock market? Because if they do, they may have noticed one of this year’s sleeper success stories: Telkom. As this paper reported on Tuesday, Telkom shares have rallied to their best levels since June 2017, quite out of keeping with their listed peers Vodacom, MTN and Blue Label, which owns mobile operator Cell C. While Telkom has rallied a steamy 29%, MTN has gained almost 13%, but Vodacom has dropped 11% and Blue Label has lost more than a third of its value. For the most part, this is as perplexing as it is pleasing to Telkom shareholders, given the absence of any real reason behind the move. MTN and Vodacom, for example, are the dominant players in the mobile telecoms sphere and both dwarf Telkom in terms of size and profitability, MTN’s woes in Nigeria notwithstanding. Both continue to show growth in subscriber numbers and profitability. PODCAST | Consumers are fed up with Telcos Subscribe: iono.fm | Spotify | Apple Podca...