{"id":22636,"date":"2012-09-20T16:37:21","date_gmt":"2012-09-20T14:37:21","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=22636"},"modified":"2012-09-20T16:52:04","modified_gmt":"2012-09-20T14:52:04","slug":"telkom-shares-off-5-3-awaits-fate","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/22636\/telkom-shares-off-5-3-awaits-fate\/","title":{"rendered":"Telkom shares off 5.3%, awaits fate"},"content":{"rendered":"

Shares in Telkom<\/a> declined more than 5% on the JSE<\/a> in late afternoon trade on Thursday (20 September) as the group awaits clarity on its future.<\/p>\n

The drop follows a meeting between the Department of Communications (DoC<\/a>) and the South African Cabinet on Wednesday (19 September) to determine a way forward for the group.<\/p>\n

Telkom also warned in a trading update that its headline earnings per share from continuing operations for the six months ending September 2012 are expected to be at least 65% lower than the prior comparative period.<\/p>\n

HEPS from continuing operations for the six months ended September 2011 stood at 191.7 cents, 35.5% lower than in 2010.<\/p>\n

By 16:15, Telkom’s shares declined 5.37%, or R1.10, to R19.40\u00a0on the JSE.<\/p>\n

Communications minister Dina Pule<\/a> met with cabinet on Wednesday to present a list of three strategic options for Telkom, having blocked a deal between the incumbent telecoms provider and Korea based\u00a0KT Corp<\/a>\u00a0in June.<\/p>\n

On Thursday, the DoC issued out the following statement on various social networks including Twitter<\/a> and its Facebook<\/a> page:<\/p>\n

\"\"<\/a>

Tweets from @DoCZA1 – the official Twitter account of the DoC<\/p><\/div>\n

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

Telkom delivers earnings warning<\/strong><\/a><\/p>\n

Telkom rallies 5% on nationalisation rumour<\/strong><\/a><\/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","protected":false},"excerpt":{"rendered":"

Shares in Telkom declined more than 5% on the JSE in late afternoon trade on Thursday as the group awaits clarity on its future.<\/p>\n","protected":false},"author":9,"featured_media":21826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[21],"tags":[1083,26,1781,65],"class_list":["post-22636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-dina-pule","tag-headline","tag-kt-corp","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22636","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=22636"}],"version-history":[{"count":8,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22636\/revisions"}],"predecessor-version":[{"id":22649,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22636\/revisions\/22649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/21826"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=22636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=22636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=22636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}