Shares in Telkom reverse almost all gains notched up after a report that the government could buy the remaining stock and delist the struggling South African telecoms firm.

Telkom was up 0.7 percent at 20.50 rand, giving up gains of as much as 8 percent.

A spokesman for the telcommunications ministry, Siya Qoza, says the report in the Business Day newspaper is “not close to the truth”. - Reuters