Vodacom up for sale...

[kingrob]

Let's hope this will increase competition in the SA telcoms industry...

Johannesburg - Shares in South African telecoms group Telkom surged nearly 5% on Monday after a report that it had put its fixed-line business and stake in mobile phone operator Vodacom up for sale.

Telkom shares jumped as much as 4.99% to R185 and by 09:09, the stock was 4.14% stronger at R183.50.

The Sunday Times reported on Sunday that Telkom was close to selling its 50% Vodacom stake to partner Vodafone Group plc but added that sub-Saharan Africa's largest cellphone operator MTN and a private consortium was also bidding to acquire the Telkom assets.

- Reuters

Full article here.

 

[Nod]

It is however not Vodacom that is for sale, only Telkom's shares in Vodacom. The heading is actually slightly wrong / misleading.

 

[Moederloos]

It is however not Vodacom that is for sale, only Telkom's shares in Vodacom. The heading is actually slightly wrong / misleading.

If Telkom owns 50% (does it?), and are selling it all (are they?), then it is only wrong by a share or so.
But, yeah, still a bit misleading.