Telkom fined R449m for market abuse

[rpm]

Telkom fined R449m for market abuse

The Competition Tribunal today imposed a penalty of R449 million on Telkom SA for abusing its dominance in the telecommunications market between 1999 and 2004 more

 

[Jola]

How do they justify such a low amount ? It should be 10% of Telkom's turnover !

 

[LazyLion]

So the final penalty is only a fraction (one seventh) of what the original 10% of earnings penalty was going to be (R3.5 Bill).

Looks like somebody managed to pull some strings there.

 

[OGroteKoning]

And where is this money going to?

 

[LazyLion]

And where is this money going to?

Um did you read the last line of the article?

 

[Hummercellc]

Oh well there goes a few MSANS for rural area's and slower network roll out as they will have to get the money from somewhere to pay this fine....

 

[Mr.CookieMonster]

Telkom is always good at pulling strings. But our government does not know better. Just flashy cars and houses

 

[OGroteKoning]

Um did you read the last line of the article?

Let me rephrase ... So why do I get the feeling this will go straight into the cANCer pockets?

 

[vonAtlas]

Isn't good to have government as a major shareholder.

 

[Wag]

And we as the customers will pay the bill. Who else?

 

[burn]

So the fine is just an elaborate way for the major shareholder to get dividends without having to payout the other shareholders?

 

[Base122]

Only R449m of the original R3.5 billion.
Quite a saving for Telkom then

 

[Ancalagon]

Wont affect Telkom exec bonuses so who cares? They should force all execs to hand back their bonuses until the R3.5b figure is met.

 

[moosag]

What a waste of time, resources, money and most importantly years of lack of innovation! Even if you fined Telkom 3 bill still does not change the fact that we a good 5-10 years behind everyone else.

Its the blind leading the stupid when it comes to progress in our Telecommunications industry.

There have been a few gems and captains of industry (Mweb, Altech, Cell C) over the years but overall our costs of telecoms is just way to HIGH!!!

The worse part is that the ANC, Zuma and his opponents are more worried about a succession battle in Manguang that the rest of the countries problems can take a back seat. No heads rolling for the limpops textbook saga?

I for see another 2-5 years of lip service, faffing around and just good old spin doctor muti in our telecoms industry from the DoC!!!

ARGGGG!!!!!

When will the real leaders stand up????

 

[BGE]

And where is this money going to?

Ever heard of SANRAL? Someone's got to pay for gov's e-toll f-up... thank you Telkom!

 

[Sodan]

Title should read "Telkom get's slap on wrist", not "Telkom get's nailed".

 

[latro]

Oh well there goes a few MSANS for rural area's and slower network roll out as they will have to get the money from somewhere to pay this fine....

They have the money to pay this without it affecting anybody but themselves. But you're right. Being Telkom, we can't expect anything less from them, now can we ?

 

[redheadfan]

The R449m is the tip of the iceberg.
Now each of the VANS can bring a civil case against Telkom to which Telkom has no defence as they've already been judged to be in the wrong. Only thing the courts will have to decide in each case is how much to award to the individual VANS.

 

[Wyzak]

So the state just got a R449m dividend... Wonder how the other shareholders feel about being left out?

 

[Wyzak]

So the fine is just an elaborate way for the major shareholder to get dividends without having to payout the other shareholders?

Yeah that's what I think too