Telkom shares decline

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TelkomT Independent Newspapers Photo: Simphiwe Mbokazi.

Shares in South African Telkom fell more than 3 percent after Africa's biggest fixed-line operator reported a one-third drop in full-year profit and suspended its dividend.

At 09:12 SA time, shares in the company, hit by tough competition and burdensome costs from its new mobile arm, were down 3.77 percent at 19.90 rand, compared with 0.28 percent fall in the JSE All-Share index. - Reuters

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