source: allAfrica
Business Day (Johannesburg)
10 June 2008
Posted to the web 10 June 2008
Lesley Stones
Johannesburg
A LONG-overdue split between Vodacom and its parent company Telkom is now inevitable, with the CEOs of both companies clamouring for freedom.
Telkom CEO Reuben September and Vodacom CEO Alan Knott-Craig told analysts yesterday that the cellular operator’s dual ownership by Telkom and the UK’s Vodafone was bedevilling all three.
Although September did not give further details of a proposal to sell part of Telkom’s stake to Vodafone, he is in favour of shedding the business as quickly as possible.
Departing from his usual noncommittal stance, September said: “The shareholders’ agreement doesn’t put Telkom in a position where it can grow its business. The two businesses are increasingly competing against each other. The value of Telkom needs to be totally liberated.”
If Telkom were free to partner with any mobile operator or to build its own wireless network, it could offer a [continue reading]
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