SA regulator seeks clarification on Telkom media sale

THE Independent Communications Authority of South Africa (ICASA) has met with representatives from Telkom SA to get an understanding of issues surrounding the sale of Telkom SA’s 75 percent shareholding in Telkom Media.

The meeting followed after Telkom SA notified the Authority, by way of a letter, of its decision to sell its shares to Shenzen Media South Africa. Subsequently, ICASA wrote back to Telkom SA to seek clarity on the nature of the transaction.

After the meeting, spokesperson Sekgoela Sekgoela, said, it was decided that Telkom Media must submit all necessary documentation relating to the transaction and transfer forms as per the Processes and Procedures Regulations by Friday.

The documentation must provide shareholder information of Shenzen Media South Africa (Pty) Ltd.

Telkom SA meanwhile assured ICASA that Shenzen Media South Africa (Pty) Ltd is a company registered in accordance with the laws of South Africa and that only 20 percent of the company is foreign-owned in line with the provisions of the Electronic Communications Act No. 36 of 2005.

“Once the information has been submitted, ICASA will consider the information and hold public hearings if warranted,” Sekgoela said.

Mthulisi Sibanda