Government may pull out of Vodacom: report

South Africa’s government is exploring the sale of its R26 billion stake in Vodacom to rescue Eskom. This is according to a report on Bloomberg.

Bloomberg reported that the government has approached financial advisers about the possible disposal of its about 13.91 percent stake in Vodacom.

According to the report possible buyers include Vodafone or institutional investors. The sale to a private buyer is unlikely.

Previous media reports suggested that government was looking at various ways to fund Eskom, which included a possible sale of its 40% share in Telkom.

Moneyweb reported that the National Treasury said on 15 September 2014 that “it would dispose of non-strategic assets to provide capital for Eskom”.

Vodacom spokesperson, Richard Boorman told MyBroadband that “we’re not aware of any developments along these lines”.

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Government may pull out of Vodacom: report