PIC keeps 5% of 15.1% Telkom BEE stake

May 6, 2005

Foreign consortium Thintana sells its 15.1% stake in Telkom ...

back to South Africa for R7-billion in November 2004. In a controversial deal the PIC warehouses the 15.1% stake for six months to let Andile Ngcaba’s Elephant Consortium get its ducks in a row. Today the PIC says Elephant will get 6.7%, a new broad based grouping 3.37%, and the PIC keeps 5%. With Brian Molefe from the PIC, Andile Ngcaba from the Elephant Consortium, Peter Bruce from the Business Day, and Steve Minnaar from minority shareholder OMAM

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