Sipho Maseko sells Telkom shares worth R10.8-million - TechCentral

Sipho Maseko sells Telkom shares worth R10.8-million

Sipho Maseko

Telkom Group CEO Sipho Maseko has sold more than 112 000 shares in the telecommunications operator, bagging R10.8-million in the process.

The share options, which vested on 3 June, were sold at an average price of R96.12.

The sale comes on the back of a strong performance in Telkom’s share price, which has handily beaten other listed telecoms stocks on the JSE in the past year.

Over the last 12 months, Telkom’s share price has rallied by 97.7% thanks in large part to a strong performance by the group’s mobile division, where subscriber growth has far outpaced rivals Vodacom, MTN and Cell C.

Over the same period, MTN Group has risen by just 2.7%, while Vodacom has inched higher by 0.4% and Blue Label Telecoms, the largest shareholder in Cell C, has plunged by 53%.  — (c) 2019 NewsCentral Media

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