Telkom’s board has rejected a proposal from a consortium that includes its former group CEO, Sipho Maseko, saying it’s “not in the best interest of shareholders”. The consortium comprised Maseko’s Afrifund Investments along with Mauritius-based Axian Telecom and the Government Employees Pension Fund. Telkom received an “unsolicited and non-binding indicative letter” from…
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Shares in SA's third-biggest mobile operator Telkom fell 5% on Friday, shortly after it said it had officially called off talks with a consortium led by former CEO Sipho Maseko and backed by the Public Investment Corporation (PIC).