Telkom shocking Risk factors

[Hoplisenaf]

I was wondering if Telkom is a privately owned or Government owned company and came across this site.....

https://secure1.telkom.co.za/ir/sustainability/risk/risk_factors.jsp

As of June 30, 2008, Government of the Republic of South Africa owned 39.8% of Telkom's issued and 41.5% of Telkom's outstanding ordinary shares, plus the class A ordinary share, Black Ginger, a wholly owned subsidiary of the Public Investment Corporation, owned 9.0% of Telkom's issued and 9.3% of Telkom's outstanding ordinary shares, plus the class B ordinary share, the Public Investment Corporation directly owned 6.6% of Telkom's issued and 6.8% of Telkom's outstanding ordinary shares and the Elephant Consortium owned 5.9% of Telkom's issued and 6.1% of Telkom's outstanding ordinary shares. Telkom has adopted a management and employee incentive plan that provides for the issue or grant of up to 22,281,272 ordinary shares, of which 15.0 million have already been granted

There are some other strange facts on this page as well.....:erm:

 

[Boomstomp]

aka government owns about 64% of Telkom directly or indirectly

 

[Luf]

mmm, this is really nothing new - also perfectly legal.

 

[Lightscribe]

aka government owns about 64% of Telkom directly or indirectly

And Neotel...

Increased competition in the South African telecommunications market may result in a reduction in overall average tariffs and market share and an increase in costs in our fixed-line business, which could cause our growth rates, operating revenue and net profit to decline and our churn rates to increase.

Neotel (Proprietary) Limited, or Neotel, formerly known as SNO Telecommunications (Pty) Limited, which was granted an additional license to provide public switched telecommunications services in South Africa, was licensed on December 9, 2005 and commercially launched on August 31, 2006 and commenced providing services in the beginning of the 2007 calendar year to corporate customers and other licensees. Neotel is 30% owned by Transtel Telecoms, a division of Transnet Limited, or Transtel, and Eskom Enterprises (Pty) Limited, or Esitel, which are beneficially owned by the South African Government, and other strategic equity investors, including 26% beneficially owned by TATA Africa Holdings (Pty) Limited, a member of the TATA Group, a large Indian conglomerate with information and communications operations.

https://secure1.telkom.co.za/ir/sustainability/risk/risk_factors.jsp

 

[RazedInBlack]

So what seems to be the problem?

 

[Lightscribe]

Has anyone done an investigation into government officials that own telkom shares, yet are in positions that influence regulations concerning telkom?

They have to be removed from their positions if they own telkom shares.

Simply giving up their shares will not work, since they will have been proven to be guilty, of obstructing LLU and all the other legal issues telkom is trying to hold back...like "comply with the provisions of the South African Public Finance Management Act, 1 of 1999, or PFMA, and the provisions of the South African Public Audit Act of 2004, or PAA," https://secure1.telkom.co.za/ir/sustainability/risk/risk_factors.jsp