Telkom changing its name and splitting into five units
Telkom CEO Sipho Maseko said he was not sure yet if owning a portfolio of telecoms towers made sense in the long term
Telkom will soon have a new name. CEO Sipho Maseko is leading a major restructuring at the partly state-owned company that will make it a retail telecommunications brand under a new, Remgro-style corporate centre. Under that corporate centre - which will have a new name that is still to be determined - will be at least five subsidiary businesses. It's part of an ambitious plan by Maseko to unlock further shareholder value at the telecoms group, whose share price has climbed more than fivefold on his watch. He took the reins on April 1 2013 under a reconstituted board, led by chairman Jabu Mabuza. The restructuring represents a significant expansion of Telkom's strategy two years ago to spin off its wholesale business into a new company, Openserve - modelled loosely on BT Group's Openreach. Maseko this week unveiled plans to group Telkom's vast property and telecoms tower assets into a new property management business called Gyro. The new holding company would be something like Remgr...
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