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Telkom announced today that the Company has filed a notice of appeal against the ruling by the Competition Tribunal in the case between Telkom and the South African Value Added Networks.
Telkom will now have forty business days to file the record of appeal before the matter can be set down for hearing by the Competition Appeal Court.
"This is a very complex matter,” said Telkom Group CEO, Ms Nombulelo Moholi. “We have indicated our intention to exercise our option to appeal. We will use the next forty days to seek opinion from senior counsel and will evaluate our position before the expiry of this period."
The ruling, issued on 7 August 2012, found that Telkom was in breach of sections 8(b) and 8(d)(1) of the Competition Act, Act 89 of 1998, imposing a fine of R 449 million.
Pynee Chetty Senior Specialist: Media Relations Group Communication Tel:+27 12 642 1716 Mobile: +27 81 389 7874 Email: chettpr2@telkom.co.za |
OR |
Leigh-Ann Francis Specialist: Media Relations Group Communication Tel: +27 12 642 1728 Mobile: +27 81 391 4780 Email: francilm@telkom.co.za |
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Telkom is a leading communications services provider in South Africa. We had consolidated operating revenue of R16.8 billion and normalised profit after tax of R1, 683 million for the period ended 30 September 2015. Total assets amounted to R41.9 billion and equity attributable to the owners of Telkom to R23.5 billion as of 30 September 2015. The group generated normalised free cash flow of R1.4 billion for the period ended 30 September 2015.
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