Telkom CFO Peter Nelson resigns

[InTheCube]

Really? I don't recall seeing too many board or executive level resignations at Neotel. They're now one of the few players in the South African market who are entirely private, with no government or political interference.

Last I checked government did have a stake in Neotel, through some other subsidiary/department (PIC?). I could be wrong though. Anyone here know any better?

UPDATE: Government had a 30% stake in Neotel, through Eskom and Transnet. However, this stake has since been sold to Tata. See the current shareholding here.

 

[ibb]

Here's a better, and potentially more accurate, rumour for your consideration.

Telkom's management is approached and poached by new/other entity. But why just resign if you can get a 'golden handshake'?

So Rueben sets it up, Thami, Naas and others 'takes a package' and leave. Money either for personal consumption or to fund new enterprise.

Reuben follows soon after. And it seems the CFO as well.

So the real question is; Where will they all pop up?

Maybe moggie can shed some light?

 

[Antonf]

Things might be wrong, very wrong, at Telkom, but I'm getting ADSL at a decent price via Telkom, and my expenditure on Vodacom's PPDBs reduced from R3000 to under r100/month... They can play board games - just give me affordable bandwidth!

 

[marine1]

So the real question is; Where will they all pop up?

Vodascum? EMPTY- N ?

 

[ibb]

Vodascum? EMPTY- N ?

Been there, done that.....

Remember Thami left Telkom before to join Vodacom. And was then enticed back to Telkom (most likely with a nice incentive scheme).

So why would Telkom pay a guy to come back only to give him a package? Pay twice to not gain anything?

Methinks they're executing a plan a year or two in the making.

My money is on a new player. Let's see who bids for the 2.6G spectrum.......