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Telkom CEO warns govt against making 'price sensitive' public statements

Jabu Mabuza says he won’t tell government what to do with its shares but urges it to consider the impact of making public statements.

FILE: Telkom CEO Jabu Mabuza. Picture: Jacob Moshokoa/EWN.

PRETORIA - Telkom chairman Jabu Mabuza has warned government to be mindful about public statements relating to state-owned entity shares, which are price sensitive.

Mabuza made the comments after a chief executive initiative meeting with Finance Minister Malusi Gigaba in Pretoria on Friday.

It emerged this week that government was considering selling its shares in Telkom to raise funds to bail out South African Airways.

Mabuza says he won’t tell government what to do with its shares but urges it to consider the impact of making public statements.

“We urge dual circumspection that you do not create unnecessary problems either for what you hold, it’s going to be depressed in its value or it’s going to be difficult to sell. So there are price sensitivities”

Gigaba says details related to its proposed plan to sell shares was contained in a confidential Cabinet document.

“The act of the leaking of the document was a criminal act. And we are investigating the source of the leak and we’ll take the relevant action.”

Gigaba says no plans related to the SAA recapitalisation have been finalised.

(Edited by Zinhle Nkosi)