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Telkom jumps on nationalisation talk

June 19 2012 at 10:12am
By Reuters

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TelkomT

Independent Newspapers

Photo: Simphiwe Mbokazi.

Shares in Telkom jumped nearly 8 percent in early trade on Tuesday after a Business Day report that said its top shareholder, the government, was considering delisting and nationalising the struggling telecoms firm.

Telkom, in which the government and a state-run pension fund own more than 50 percent, gained as much as 7.86 percent. It gave up some of those gains to trade 4 percent higher at 21.16 rand by 09:24 SA time. - Reuters


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