{"id":22317,"date":"2012-09-17T14:34:16","date_gmt":"2012-09-17T12:34:16","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=22317"},"modified":"2012-09-18T09:16:10","modified_gmt":"2012-09-18T07:16:10","slug":"telkom-rallies-5-on-nationalisation-rumour","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/22317\/telkom-rallies-5-on-nationalisation-rumour\/","title":{"rendered":"Telkom rallies 5% on nationalisation rumour"},"content":{"rendered":"

Shares in Telkom<\/a> rallied in excess of 5% in afternoon trade on the JSE on Monday as investors entertained the rumour that the group may be re-nationalised.<\/p>\n

The Department of Communications (DoC<\/a>) is set to present a list of three strategic options for Telkom to cabinet later this week, having originally blocked a deal between the incumbent telecoms provider and Korea based KT Corp<\/a> in June.<\/p>\n

One dealer pointed to “reasonable” trade volume, with 27 million shares changing hands shortly after 14:00.<\/p>\n

Another dealer said that rumours were doing the rounds that Telkom could be nationalised and delisted, although she added that there was no substantiated evidence. \u201cInvestors could be looking for some value in the stock, having endured a miserable run in recent time\u201d the dealer said.<\/p>\n

Last week, an analyst suggested that government could offer R24 a share for Telkom, giving it a market cap of approximately R12 billion.<\/p>\n

Shares in Telkom rallied 4.32% to R19.31 by close of play on the\u00a0JSE<\/a>\u00a0on Friday (14 September) and by 14:20 on Monday, it advanced a further R1.13, or 5.85%, to R20.44, having reached an intraday best of R20.75 – or in excess of 7% in noon trade.<\/p>\n

Related article<\/strong><\/p>\n

Telkom to be sold at R24 a share, nationalised: analyst<\/strong><\/a><\/p>\n

Government dragging on Telkom \u2013 analyst<\/strong><\/a><\/p>\n

DoC D-Day for Telkom<\/strong><\/a><\/p>\n

Investors \u201cwait and see\u201d on Telkom<\/strong><\/a><\/p>\n

Telkom to appeal R449m fine<\/strong><\/a><\/p>\n

Further Telkom pain on the way?<\/strong><\/a><\/p>\n

Telkom fine is credit-negative: Moody\u2019s<\/strong><\/a><\/p>\n

Telkom has not discussed delisting<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares in Telkom rallied in excess of 5% in afternoon trade on the JSE on Monday as investors entertained the rumour that the group may be re-nationalised.<\/p>\n","protected":false},"author":9,"featured_media":6038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[1087,1444,26,1781,65],"class_list":["post-22317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-department-of-communications","tag-doc","tag-headline","tag-kt-corp","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22317","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\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=22317"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22317\/revisions"}],"predecessor-version":[{"id":22323,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22317\/revisions\/22323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/6038"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=22317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=22317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=22317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}