Telkom on board with govt agenda – Pule
Nov 26,2012 0 Comments
Telkom can be sustainable and help government achieve its goals, says Dina Pule.
Following a meeting with the Telkom board, Pule said she was confident the operator would help the department achieve its goals.
“Today’s engagement went very well. I’m confident that the board of Telkom will help the state achieve its developmental goals, while ensuring that Telkom remains commercially sustainable,” said Minister Dina Pule.
Earlier this year the operator revealed it had been informed by Pule, that the proposed transaction company, KT Telecom and Telkom had been presented to Cabinet and that a decision to not support the proposed deal was taken.
The proposed deal, which was first announced in October last year, would have seen the Korean company buy a strategic equity shareholding of 20% of Telkom’s post-issue ordinary share capital for around R3 billion.
While the company noted the deal would have provided it with the capital it needed to execute its strategy – government argued that Telkom was key to improving broadband access in the country.
Earlier this month, Telkom CEO, Nombulelo Moholi announced she would vacate the top position in six months following the departure of several Telkom board members.
Telkom chairperson Lazarus Zim, Julia Hope and Jackie Huntley stepped down at the conclusion of the operators Annual General Meeting in October.
Following events at the company’s recent AGM, where four non-executive directors were not re-elected to the board by a majority of shareholders, the board has been reconstituted with the appointments of Jabulane Albert Mabuza, Kholeka Mzondeki and Leslie Maasdorp.
The board has also elected Mabuza as the chairman. The next step in the process will be the appointment of further directors and board committees.