Another resignation at Telkom

Telkom SA advised on Thursday (20 September) that Mmathoto Lephadi will resign as company secretary of the group with effect from December 31, 2012.

Last week, the embattled telecommunications group announced that Lazarus Zim would step down as chairman and director of Telkom at the end of the company’s annual general meeting in October 2012.

Marian Shinn, shadow minister of communications warned that Zim’s departure was likely to be the first of many of those in Telkom.

The Department of Communications (DoC) presented a list of three strategic options for Telkom to cabinet on Wednesday (19 September), having blocked a deal between the incumbent telecoms provider and Korea based KT Corp in June.

Last week, an analyst suggested that government could offer R24 a share for Telkom.

Shares in Telkom have slipped from R29.45 on the JSE since the start of the year, to a low of R16.02, but has improved in September rallying more than 4% on Friday (14 September) and an additional 5% on Monday (17 September).

In mid morning trade on Thursday (20 September), shares in Telkom were a fraction higher from its overnight close, at R20.51.

Related article

Telkom’s Zim departure first of many: DA

Telkom chairman steps down

Telkom SA re-appoints Lazarus Zim as chairman

Must Read

Partner Content

Show comments

Trending Now

Follow Us

Another resignation at Telkom