Govt to strong-arm Telkom

It is comical, it really is. Greedy pigs the lot of em.
Lyndall Shope-Mafole, inside or outside, your policy framework sucks. It is what got us into this mess in the first place.
 
Government would use its six seats on the Telkom 10-member board to ensure the telecommunications utility follows policy, Shope-Mafole noted
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and they want us to believe that they are powerless in controlling Telscum and can't force them to reduce telecom's prices. I think they need to co-ordinate there press releases about Telkom in the future. There is the proof that we can thank our Gov for the sorry state of affairs in the telecoms arena.
 
Government wont ever 'effectively' negatively influence a company that they are heavily invested in and that also forms a backbone of their pension fund through the PIC investment. Anyones guess as to personal investments of the players.
Investors look for long terms, stability and steady growth. Telkom are incapable of this in a competitive market, hence all the delays and stalling.
The consumers will always be f#k#d.
 
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They have SIX out of 10 seats?!? SIX SEATS!!! For pete's sake hey could make Telkom lower their prices whenever they want.
 
Skip said:
They have SIX out of 10 seats?!? SIX SEATS!!! For pete's sake hey could make Telkom lower their prices whenever they want.
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This is old news and you are correct, but they dont.
 
yeah they could have but they to greedy/incompetent to...
 
Sneeky said:
This is old news and you are correct, but they dont.
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I thought they had at most 4 seats, from their 38% ownership. If they have six then they are actually overrepresented.
 
Sry Skip, that did not come out the way I intended :o: my bad.
What I meant is that government controls Telkom, always have and always will, be it through the board or through policy.

http://www.telkom.co.za/minisites/ir/corpgov/board_of_directors.html
Telkom's Board consisted of one executive and ten nonexecutive directors at March 31, 2006. The Government and PIC are the holders of the Class A and Class B shares, respectively. Based on their ordinary shareholding at March 31, 2006 (and their holding of the Class A and Class B shares), the Government was entitled to appoint five directors, including two executive directors, to the Board, and the PIC was entitled to appoint one director to the Board.
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Who would these six people be? Give us a clue then, do they sleep in Parliament? :)
 
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