Telkom will honour obligations
Telkom said on Monday that it will continue to act “in accordance with its legal obligations” regarding the sale of its shares in mobile operator Vodacom to Britain’s Vodafone.
At 13:12pm Vodacom was trading at 5 921c on the JSE, with Telkom giving up 5 600c, or 49.56%, to 5 700c.
Telkom also said May 22 will be the last trading day to participate in the special divided. This dividend will be paid on June 1.
The group warned, however, that Cosatu’s application on May 5, whereby the trade federation challenged the Independent Communications Authority of South Africa’s (Icasa) original decision that Vodacom did not require Icasa’s approval for the transaction, is still pending.
Sunday’s High Court verdict that gave Vodacom the go-ahead for its listing on Monday has no bearing on Cosatu’s earlier application.
Telkom will oppose the application.
Telkom and Vodacom listing discussion
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