{"id":42331,"date":"2013-07-18T15:40:55","date_gmt":"2013-07-18T13:40:55","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=42331"},"modified":"2013-07-19T10:01:47","modified_gmt":"2013-07-19T08:01:47","slug":"telkom-settlement-given-green-light","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/42331\/telkom-settlement-given-green-light\/","title":{"rendered":"Telkom settlement given green light"},"content":{"rendered":"

The Competition Tribunal has approved the settlement drawn between Telkom<\/a> and Competition Commission<\/a>, which would see the incumbent telco pay a R200 million fine and make the telecoms market more competitive moving forward.<\/p>\n

Competition Tribunal Chairperson Norman Manoim<\/a>, congratulated Telkom and the Competition Commission on the agreement, which he noted as having been reached timeously and outside of litigation.<\/p>\n

\u201cI think this has been an incredible agreement reached by both parties,\u201d he said.<\/p>\n

\u201cIt\u2019s certainly the most impressive consent agreement that I have seen here in my years at the Tribunal and no doubt it took a lot of hard work and many hours of negotiation.”<\/p>\n

Telkom welcomed the confirmation, calling the settlement “the beginning of a new era in the communications sector”.<\/p>\n

\u201cWe believe that the conclusion of this agreement is an essential element of our transformation journey,” said Telkom CEO, Sipho Maseko<\/a>.<\/p>\n

“It will allow the [Telkom] to move beyond legacy complaints and litigation that have been a drag on performance, strategic focus and sound partnerships and which occupied the attention of senior executives for a long period.”<\/p>\n

According to Maseko, concluding the agreement enables Telkom to focus on aspects of the business that are critical to its future success.<\/p>\n

“These include improving the profitability of the business, enhancing the service that customers deserve and ensuring the long-term commercial sustainability of the company,\u201d Maseko said..<\/p>\n

Telkom said it will now focus on implementation of all the provisions of the agreement and the compliance processes Telkom has committed to put in place.<\/p>\n

\"Sipho<\/a>

Sipho Maseko<\/p><\/div>\n

The settlement package includes:<\/h3>\n