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Telkom losses stack up

Sep 21 2012 12:33
Reuters

Company Data

TELKOM SA SOC LIMITED [JSE:TKG]

Last traded 66
Change 2
% Change 3
Cumulative volume 1419590
Market cap 0

Last Updated: 22-07-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

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Johannesburg - Telkom shares declined 5.32% to R18.34, adding to a 5.5% drop on Thursday, when the fixed-line operator warned that first-half earnings will likely fall as much as 65%, hit by a $55m regulatory fine.

The Competition Commission last month slapped Telkom [JSE:TKG] with a R449m fine for using its dominant market position to stifle potential competitors.

The fine is the latest setback for struggling Telkom, which has been hurt by the steady decline in fixed-line usage and a failed expansion into Nigeria.

Its return on equity over the last 12 months has been just 0.2%, according to Thomson Reuters data, compared with an average of 27.5% for five other emerging markets telecom firms.


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