Telkom shares see-saw on news of corruption probe
Shares take a 5.7% knock and then recover while market awaits clarity on investigation into its ill-fated forays
26 January 2022 - 10:22
UPDATED 26 January 2022 - 19:35
Telkom is awaiting clarity on the scope of the investigation into allegations of corruption and malfeasance in its affairs stretching back to 2006, it said on Wednesday, a day after President Cyril Ramaphosa ordered the probe, which has cast a shadow over the company and hammered its shares.
“We expect to receive further clarity on the scope of the investigation. Telkom will deal with the investigation on its merits in the appropriate forum, in the appropriate manner, at the appropriate time,” Telkom said in a statement on the JSE’s regulatory news service, Sens...
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