TELKOM MAY SPLIT COMPANY

Pretoria-based Telkom has one of the largest real estate portfolios in South Africa and CEO Sipho Maseko wants it to contribute more to earnings, they said.
The move extends a turnaround strategy at the former phone monopoly under Maseko, who has cut costs and helped to engineer a near quadrupling of the stock price in his four years at the helm.
The workforce has been reduced by about half to 12 000 people and the wireless unit is now profitable.
The creation of the property business is part of the next phase of Maseko’s strategy, which will involve an examination of each of the company’s operations, said one of the people.
The shares rose 0.9 percent to R73.68 as of 12:34 p.m. in Johannesburg on Monday, valuing the company at R38.8 billion.
The business is about 39 percent owned by the South African government.
Source: iol.co.za

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