Telkom’s shares fell more than 10 percent to R131.20 yesterday as the telecoms firm unveiled several strategy decisions, including its rejection of Oger Telecom’s offer, an entry into the mobile data market and a reduction in its stake in pay television provider Telkom Media.

The plunge in share price indicates that the market did not buy into its strategy. Telkom’s market capitalisation declined to R73.5 billion.
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Telkom rejects Oger Telecoms approach
Telkom said it has rejected an approach from Oger Telecoms and will not consider the sale of the group or any of its units or joint ventures without a strategic rationale.

Telkom said in a statement on Monday it had turned down the approach from United Arab Emirates-based Oger as it was not in the interest of shareholders.

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Telkom refuses to do business with Oger Telecoms
Telecommunications giant, Telkom says it has rejected a business proposal from Oger Telecoms and will not consider the sale of the group or any of its units without a strategic rationale.

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