Telkom CEO Leaves

Oh well...

Bob had a job, bob quit his job, who wants bob's job?

If only it was bob tho'
 
Telkom shares were sharply up at the close of business. It has to go into extanded auction because of an order imbalance. Too many buyers, not enough sellers.

The shareholders view this as a positive development. I don't think they liked Papi.
 
Gatecrasher said:
Telkom shares were sharply up at the close of business. It has to go into extanded auction because of an order imbalance. Too many buyers, not enough sellers.

The shareholders view this as a positive development. I don't think they liked Papi.
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Was the SENS announcement out by then?
 
YAY!!!!!!!!!!!! I am gonna go dance in the street :)

About time we get someone who is actually not a complete liar!!
 
rpm said:
Was the SENS announcement out by then?
Click to expand...

My Reuters is set to GMT. The local time of the SENS was 4.54pm

So, yes, there was 6 minutes between the SENS announcement and the close of the auction period. So thats 6 minutes to get orders in on the back of the news.
 
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Right, now that I'm over the inital shock and lightning-necessitated offline time has given me a chance to process this information, let me just say WOOHOO!

It really does sound like the DoC, after Mbeki's attacks yesterday, have exercised their power. The question, now, is how did it happen?

A.
Gov't: Drop prices.
Papi: No.
Gov't: *boot*

B.
Gov't: Bugger off, you suck.
Papi: *slinks off, tail between legs*

Or lastly, and let's hope this isn't it:

C.
Papi: The president said we should drop prices.
Gov't: To hell with you. *boot*
 
Telkom board axes CEO Papi Molotsane

http://www.fmtech.co.za/uncategorised/papi-molotsane-quits-telkom/

The Telkom board has axed CEO Papi Molotsane after just 18 months in the job. He will leave the fixed-line telephone company with immediate effect.
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It is understood that tensions between top management at the company have been rising in recent months. Relations between September and Molotsane have apparently been rocky, to the extent that the two men have barely been on speaking terms.
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ROFL :D :eek: :D
I wonder if he quit not cause the gov is putting pressue one him, but simply he is caught between a rock and a hard place.. Just think about it..

[-]Gov.. not wait[/-] Mbeki : "Drop prices dang it"

DoC : "We plan on making it possible to drop prices one day"

Gov invested interests + shareholders : "Don't you dare drop prices and not make the same profit"

So you see he is kinda shouldering the blame with his name while he can't do much.
 
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