EDITORIAL: Sipho Maseko owes shareholders who refuse to hang up on Telkom
Investors show faith in plan to transform the company as stock price edges up after shock announcement
24 June 2020 - 05:10
Investors were understandably unimpressed by Telkom’s painful announcement on Monday about suspending dividends that sent its shares tumbling more than 7%, its biggest one-day drop in more than two months.
Telkom, which counts the government and its R2-trillion employee pensions investor, the Public Investment Corporation, as its biggest shareholders, posted a 66% drop in annual earnings. It blamed the costs of buying out more than 2,200 workers it no longer needs...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.