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Sipho Maseko's departure from Telkom in June next year after what will be more than nine years as CEO has raised the question of who will oversee the long-anticipated unbundling of the JSE-listed company - Maseko or his successor.Telkom's subsidiariesinclude mobile and fixed-line, the fibre division Openserve, data centre business BCX, and the mast, tower and property division Gyro. This indicates that Telkom, which now trades at about R43, is undervalued and there is potential to unlock value through listing some divisions or bringing on board strategic partners.Maseko is credited with turning around Telkom. When he was appointed CEO in April 2013, Telkom had 21,000 employees, a declining fixed-line business and a minor, loss-making mobile segment. The group is now profitable, and its mobile and fibre segments are the dominant divisions. Its workforce is now about 7,000. Including staff at BCX, which Telkom bought in 2016, the group's total complement is abou...

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