Will Telkom save SAA?

Mariam Isa

selling a stake in Telkom to help bail out loss-making South African Airways (SAA) is back on the table, in order to avert a R3.7bn breach in the government’s spending ceiling in the financial year ending next March, Treasury’s Director General Dondo Mogajane said on 25 October. The news came as a surprise as, just two weeks ago, Telkom had withdrawn its trading cautionary on the JSE, saying it was not aware of any current decision by the government to reduce its 39% shareholding in the company – despite stating that this was the case in September. Mogajane told journalists ahead of the Treasury’s Medium- Term Budget Policy Statement in Parliament that by March next year a final decision will have been made on a list of assets the government will dispose…

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Finweek - English (Digital) - 1 Issue, 02-nov-17

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