Govt no longer considering selling Telkom shares

Telecommunications Minister Siyabonga Cwele was reacting to Telkom's half-year financial results for the period ended September 2018, in which it declared a dividend of 112 cents per share.

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JOHANNESBURG - Telecommunications Minister Siyabonga Cwele says government is no longer considering the possibility of selling its shares in Telkom.

The minister was reacting to Telkom's half-year financial results for the period ended September 2018 in which it declared a dividend of 112 cents per share.

Last year, former Finance Minister Malusi Gigaba said government would sell off some of its Telkom shares to bail out the South African Airways and the South African Post Office.

The minister's spokesperson Siyabulela Qoza said: “The minister did welcome the half-year results of Telkom. When he was looking at the results, he also reiterated government position; that the possible failure of Telkom shares is no longer on the table, so government is no longer discussing that.”

(Edited by Mihlali Ntsabo)