Tsholofelo Molefe

Telkom CFO Officer Tsholofelo Molefe has followed CEO Sipho Maseko’s lead in selling shares in the telecommunications company following the release of its interim results last week.

In a regulatory filing with the JSE on Friday, Telkom revealed that Molefe sold R2.8 million worth of shares in the company on Wednesday at an average price of R33.42.

This comes two days after Maseko sold R6.3 million in Telkom shares in two tranches. These sales took place on November 12 and 13, a few days after the company exited a closed period, during which the directors cannot negotiate, following the publication of the results for the six months ended in September. 2020.

Telkom did not reveal why the pair was a seller of its shares.

Maseko’s decision to sell came despite comments it made in last week’s earnings release that Telkom’s shares were “undervalued.”

The CEO announced a series of measures to unlock shareholder value, including spinning off BCX’s data center business and granting greater autonomy to the Openserve wholesale division and Gyro real estate business.

The idea is to run them as stand-alone businesses and possibly attract outside shareholders. – (c) 2020 NewsCentral Media