Telecoms2.07.2007
Telkom share price takes a beating
Telkom shares closed at R 167-50 today, down R 10-90 from its Friday closing price of R 178-40. Analysts warned that the fallout from the investor community about the failed BCX bid would only become visible today.
Shareholders were waiting for the R 11-00 dividend payout, recorded in the company's register at the close of business on Friday, before selling their shares.
It is evident that investors are not overly optimistic about Telkom’s current position. The negative reaction may be related to reports that Telkom may sell their stake in Vodacom and could be facing tough competition from a variety of sources and not just Neotel.
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