“Telkom’s Zim brutally betrayed by the major shareholder” – SA’s DA
After the announcement of the resignation of Telkom’s Chairman Lazarus Zim, South Africa’s Democratic Alliance (DA) said that it was inevitable that he would have had to vacate his post.
“His departure is likely to be the first of many of those in Telkom who invested extensive energy and time into developing a strategic turnaround and expansion deal with South Korea’s KT Corp that Cabinet rejected as soon as it was tabled on May 30,” wrote Marian Shinn, DA’s Shadow Minister of Communications.
The DA wished him well on his future endeavours, but added that it is a blow for Telkom. “The DA… wishes him well on his future path. It must have been untenable for him – and many of his team – to have been so brutally betrayed by the major shareholder which instigated the negotiations with KT Corp. Despite monthly meetings with Communications Minister Dina Pule he was given no hint of the fact that Telkom was negotiating on behalf of an unwilling seller.”
Shinn speculated that Zim has inner knowledge of Telkom’s way forward, and wanted no part of the process. “Mr Zim obviously has insight into Cabinet’s intentions for Telkom and wants to play no part in these. It is a sad day indeed when government ineptitude chases away talented and dedicated business people who want to play a constructive role in making South Africa work,” Shinn concluded.
Charlie Fripp – Consumer Tech editor