Johannesburg - Sipho Maseko, the chief executive officer of South African phone company Telkom, had charges of driving a car with falsified number plates dropped by the state after he appeared in a Johannesburg court.
Maseko declined to comment as he left the Magistrate’s court in the city’s Wynberg suburb on Friday. The case against him was withdrawn, according to a court official.
“Maseko welcomes the decision,” Telkom spokeswoman Jacqui O’Sullivan said in an e-mailed response to questions. “The resolution of this matter now allows Mr. Maseko to put the issue behind him.”
The CEO of the country’s biggest landline-phone provider displayed a different car license plate to the one he was issued from February 2013 to July 2014 and incurred traffic fines of R18 000 ($1 320) in someone else’s name, according to a document filed by prosecutors at the Wynberg court in July.
Telkom shares were unchanged at R60 as of 11:19 a.m. in Johannesburg. The stock is down 14 percent this year, valuing the company at R32 billion.
Pretoria-based Telkom is about 40 percent owned by the South African government.
BLOOMBERG