{"id":15886,"date":"2012-06-19T15:14:27","date_gmt":"2012-06-19T13:14:27","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=15886"},"modified":"2012-06-20T09:37:16","modified_gmt":"2012-06-20T07:37:16","slug":"government-squashes-telkom-buy-out-talks","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/15886\/government-squashes-telkom-buy-out-talks\/","title":{"rendered":"Government squashes Telkom buy-out talks"},"content":{"rendered":"

Government has denied that it has any plans to buy up shares in the struggling encumbent, Telkom<\/a>, dismissing reports in the Business Day newspaper.<\/p>\n

\u201cThere has not even been a discussion or talks inside the department about any proposal for Telkom,\u201d Siyabulela Qoza, the spokesman for Communications Minister Dina Pule<\/a>, said today, as reported by MoneyWeb.<\/p>\n

Business Day quoted an unnamed source as saying that \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<\/p>\n

Earlier in June, government rejected an offer to acquire 20% of Telkom by Korea-based KT Corp<\/a>, saying that the company was a “strategic asset” in its plan to roll out Internet to all South Africans by 2020.<\/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

Telkom told MoneyWeb that it had noted the speculation surrounding a buyout and nationalisation of the company, but had not received any communication on the matter from any shareholders.<\/p>\n

“Telkom is not in a position to pronounce on the ANC\u2019s<\/a> internal discussions on policy or any other matter whatsoever as it is not party to those discussions,\u201d it said.<\/p>\n

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

Telkom nationalisation on the cards<\/strong><\/a><\/p>\n

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

Telco 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":"

Government has denied that it has any plans to buy up shares in the struggling encumbent, Telkom, dismissing reports in the Business Day newspaper.<\/p>\n","protected":false},"author":10,"featured_media":8900,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[25,1087,1083,10333,1781,65],"class_list":["post-15886","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-active","tag-department-of-communications","tag-dina-pule","tag-government","tag-kt-corp","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15886","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=15886"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15886\/revisions"}],"predecessor-version":[{"id":15890,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/15886\/revisions\/15890"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/8900"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=15886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=15886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=15886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}