Telkom's previous PR contracts, both locally and abroad, expired in December during the time that the listing had to be postponed partly due to delays in the drafting of a new telecoms policy and new regulations. Now it appears that the government is set on speeding up the process with a clear indication that it intends to have completed the long-delayed IPO by the end of the fiscal year to end-March.
Treasury officials say that despite weak world telecoms markets the IPO is to go ahead. At the government's annual budget in February it was expected that about R10-billion would be raised from the privatisation. It is intended that at least 20% will be listed in Johannesburg and New York.
The company that wins the bid will be retained for up to seven months from September 16.
