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| | TELKOM: the new pyramid scheme? |
 | | However, Telkom was given a "grace period", a fixed-line monopoly to prepare for liberalisation and, more importantly, to ensure that the developmental objective of rolling out phone connections to under-serviced areas could be achieved. |
 | | But, sadly, as Telkom's own 2001-2 financial statement was forced to concede, only 667,039 of the 2.67 million lines delivered were still in service. |
 | | According to Business Day: "In the wake of the recent carnage of telecommunications and technology stocks across the globe, analysts now put Telkom's valuation at about a third of the R100bn to R120bn estimate of two years ago." The proposed Telkom IPO before March 2003 will, therefore, be a knock-down bargain-basement fire-sale. |
| www.numsa.org.za /article.php?cat=&id=569 (1415 words) |
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