Telkom’s newly appointed group CEO, Sipho Maseko, has bought shares worth almost R1m in the JSE-listed telecommunications operator.
Maseko bought 52 520 shares on Thursday, 11 July, worth R999 980. The purchase came on the same day that Telkom Mobile slashed prepaid voice tariffs to 29c/minute for on-network calls and 75c/minute for calls to other mobile networks and to fixed lines.
The acquisition of the shares comes despite the strong improvement in Telkom’s share price in recent weeks. The counter touched a 52-week low of R11,93/share on 6 May. It closed yesterday at R19/share, a rally of 59,3% in just over two months.