Related Articles
Top Stories
May 25 2012 13:58
The costs of the first phase of the Gauteng Freeway Improvement Project have increased significantly to almost R90bn, according to a report.
May 24 2012 17:31
The Reserve Bank will maintain current interest rates, and a considerable reduction in the local petrol price is anticipated, says governor Gill Marcus.
May 25 2012 11:36
The JSE has identified and stopped "incorrect" trades from one of its members, and will reverse the trades and lower the session's total value after the close.
Johannesburg - Telkom is apparently struggling to sell its majority stake in Telkom Media, and is reputedly considering simply liquidating the division should the other shareholders agree.
This comes after the communications giant indicated last year that it wanted to reduce its 66% in Telkom Media by a sizeable margin.
The subsidiary is one of a handful of businesses with a pay-television licence. Telkom was to have announced the name of a buyer before the end of January, but no-one has yet been identified.
A source working for Telkom Media, who wishes to remain anonymous, told Sake24 that employees have already been given to understand that the business will be liquidated. The source speculated that an announcement is expected soon because Telkom wanted to have Telkom Media "off its books" for the coming financial year.
When questioned about the possible liquidation, Telkom Media spokesperson Chris van Zyl said that Telkom had not yet made a formal announcement to the company. At this stage it is mere conjecture.
Meanwhile Solidarity spokesperson Jaco Kleynhans declared that the union wanted answers about Telkom Media, where some of its members were employed.
"The big question is whether Telkom Media will be closed down. The process is crating tremendous uncertainty among the staff," he stressed.
- Sake24.com
For more business news in Afrikaans, go to Sake24.com.