Lurking in Telkom's stellar annual results this week was a tacit admission that the organisation came close to self-destruction in the past decade.
Back in 2010, its fixed-line business entered a 10th year of decline. That marked a strategic watershed in its history at a time when it had not yet launched its mobile service. It was so intent on protecting its legacy business, it threw market logic out of the window and doubled down on what might be called accounting logic...
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