South Africa’s Telkom pays R3.9bn to DOC

www.WirelessFederation.com/news: R3.9 billion has been gained by the Department of Communications from the sale of Vodacom by Telkom. Extraordinary” dividends have been paid by SA’s fixed-line operator after it sold off its 15% stake in Vodacom last year.

R22.5 billion were earned by Telkom’s 15% stake of which the bulk was paid out to its majority shareholder, government, which has a 39.8% stake.

It was said in the company’s annual report that it had  unbundled its stake in Vodacom on April 20 and distributed half of the after-tax profits of the R22.5 billion, which was R19 a share.