{"id":15827,"date":"2012-06-19T09:51:46","date_gmt":"2012-06-19T07:51:46","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=15827"},"modified":"2012-06-19T10:35:24","modified_gmt":"2012-06-19T08:35:24","slug":"telkom-nationalisation-on-the-cards","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/15827\/telkom-nationalisation-on-the-cards\/","title":{"rendered":"Telkom nationalisation on the cards"},"content":{"rendered":"

The government, a top shareholder in Telkom<\/a>, could delist and nationalise the struggling telecoms operator, Business Day newspaper reported, citing a source close the communication department.<\/p>\n

\u201cThe government is looking for a way to direct Telkom to meet its development agenda without being hampered by the rules of the JSE<\/a>,\u201d the nation\u2019s leading business daily quoted the source as saying.<\/p>\n

Shares in Telkom advanced in early trade on the JSE, adding 4.42% to R21.25.<\/p>\n

Earlier this month, the government, which together with the state-run pension fund hold over 50% of Telkom, rejected KT Corp\u2019s<\/a> $385m offer for a stake in the company, saying the firm was a strategic asset in its plan to roll out internet to all South Africans by 2020.<\/p>\n

The deal would have diluted the government holding to less than 50%.<\/p>\n

Analysts have said the rejection of KT\u2019s offer underscored the apparent determination of the government not to cede control of a company that many in the ruling African National Congress view as an arm of government.<\/p>\n

The ANC last year tried unsuccessfully to roll back approval for Walmart’s $2.4bn acquisition of retailer Massmart Holdings.<\/p>\n

A communication department spokesperson could not be immediately reached for comment.<\/p>\n

On Monday, the Communications Workers Union (CWU)<\/a> has defended Cabinet\u2019s decision to block a deal between Telkom, and Korea-based KT Corp, stating that the telecommunications sector should be under state ownership.<\/p>\n

Relates Article<\/strong><\/p>\n

Telkom\u2019s 15-month window<\/a><\/strong><\/p>\n

\u00a0Telco sector should be under state control: CWU<\/a><\/strong><\/p>\n

Telkom plans to lead in data and broadband<\/a><\/strong><\/p>\n

Telkom reports 33% fall in headline profit<\/a><\/strong><\/p>\n

KT Corp block horrendously, stupendously, horrifically bad<\/a><\/strong><\/p>\n

Telkom, Korea Telecom transaction not going ahead<\/a><\/strong><\/p>\n

Telkom lowers expected earnings<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The government, a top shareholder in Telkom, could delist and nationalise the struggling telecoms operator, Business Day newspaper reported, citing a source close the communication department.<\/p>\n","protected":false},"author":7,"featured_media":7507,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[1875,26,175,1781,65],"class_list":["post-15827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-anc","tag-headline","tag-jse","tag-kt-corp","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=15827"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15827\/revisions"}],"predecessor-version":[{"id":15829,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15827\/revisions\/15829"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/7507"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=15827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=15827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=15827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}