SA govt denies Telkom 'nationalisation plans'
- Published on 21 June 2012
The South African government has denied local press reports about it planning to nationalise the fixed line operator Telkom.
It was reported this week that the ANC-controlled government was planning to take over the company, following cabinet’s recent rejection of Korean group KT Corp’s bid to buy a 20% stake in Telkom.
But Siyabulela Qoza, the spokesman for South Africa’s communications minister Dina Pule, told online business publication MoneyWeb: “There has not even been a discussion or talks inside the department about any proposal for Telkom.”
South Africa’s government owns almost 40% of Telkom, making it the company’s largest stakeholder. Furthermore, the Government Employees Pension Fund holds a further 10.89% stake.