But the former telecommunications monopoly faces huge challenges if it hopes to remain a significant market player.
Browsing: Sipho Maseko
Telkom shares rose as much as 8.9% on Monday morning after a report said Sipho Maseko is spearheading a possible bid to buy 35% of the group.
The PIC is backing a possible bid led by the former chief executive of Telkom for a 35% stake in the company, sources said.
Telkom CEO Serame Taukobong has told TechCentral that the company is giving serious consideration to selling a stake in Openserve.
Once Telkom has concluded its deliberations with Rain, it’s possible – likely even – that the company will be back at MTN’s door.
Telkom will complete the legal separation of its wholesale division Openserve on 1 September, with the unit becoming a wholly owned subsidiary.
Telkom paid its former group CEO, Sipho Maseko, R20-million in retention bonuses in the past two years plus a R32-million restraint to prevent him being poached by competitors.
MTN Group has entered into discussions to acquire Telkom. The talks are at an early stage, the parties said, and might not result in a deal.
Telkom Group CEO Serame Taukobong said he has zero interest in buying smaller rival Cell C, making it clear that no deal will happen on his watch.
New Telkom CEO Serame Taukobong has a challenge on his hands: the mobile growth story that underpinned the business in recent years appears to be ending.