{"id":22701,"date":"2012-09-21T10:49:17","date_gmt":"2012-09-21T08:49:17","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=22701"},"modified":"2012-09-21T14:16:52","modified_gmt":"2012-09-21T12:16:52","slug":"telkom-options-not-tabled-before-cabinet","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/government\/22701\/telkom-options-not-tabled-before-cabinet\/","title":{"rendered":"Telkom options not tabled before Cabinet"},"content":{"rendered":"

Cabinet did not discuss Telkom<\/a>\u2019s fate at the latest meeting on Wednesday (19 September 2012), a spokesperson told media at a post-cabinet briefing on Friday (21 September 2012).<\/p>\n

This is despite the Department of Communications (DoC<\/a>) saying in a statement last week that the Minister of Communications, Dina Pule<\/a>, would report back on the options for Telkom at this week\u2019s cabinet meeting.<\/p>\n

In the statement, the DoC said that Pule and the Inter-Minesterial committee have worked \u201cvery hard\u201d with government officials to distill the list of options down to three.<\/p>\n

Cabinet blocked a deal between KT Corp<\/a>, a Korean telecommunications operator, and Telkom on 30 June 2012.<\/p>\n

Following this, Cabinet tasked Pule to report back within three months with all the options available for Telkom after the deal was canned.<\/p>\n

It is understood that Pule was in discussions about Telkom on Wednesday, though a spokesperson said the three options previously mentioned by the DoC were never tabled before Cabinet.<\/p>\n

In a statement issued on Thursday, the DoC said that \u201cthe options for Telkom are following Cabinet processes\u201d and that “the Minister is unable to provide additional comment at this stage”.<\/p>\n

The spokesperson said that they don\u2019t have the reasons why the options weren\u2019t presented to Cabinet, adding that \u201cmaybe it will come later\u201d.<\/p>\n

In mid-morning trade on the JSE<\/a>, Telkom’s shares dropped a further 6.30%, or R1.22, to R18.15.<\/p>\n

This after having lost\u00a05.51% to R19.37 on Thursday (20 September) after warning of a big drop in its half-year profit to the end of September.<\/p>\n

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

Telkom shares off 5.3%, awaits fate<\/strong><\/a><\/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","protected":false},"excerpt":{"rendered":"

The Department of Communications did not present options for Telkom as they said they would, according to a Cabinet spokesperson<\/p>\n","protected":false},"author":12,"featured_media":15430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1900,1087,1083,26,65],"class_list":["post-22701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-cabinet","tag-department-of-communications","tag-dina-pule","tag-headline","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22701","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\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=22701"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22701\/revisions"}],"predecessor-version":[{"id":22707,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/22701\/revisions\/22707"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/15430"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=22701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=22701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=22701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}