Telkom reports R10bn loss

JOHANNESBURG - The country’s third-biggest mobile operator Telkom has reported an annual loss of R10-billion.

The company took a heavy hit dealing with power cuts, hefty impairments and restructuring costs, which saw it swing from the previous year's profit of R2.6-billion.

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However, Telkom has seen an almost 8% increase in its mobile subscriber base to about R18.3-million.

Telkom shares rallied after it confirmed it is in the sights of a consortium led by former CEO Sipho Maseko.