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South African government confirms plan to sell unspecified stake in Telkom

2017-10-26 09:54:00| Telecompaper Headlines

(Telecompaper) Finance Minister Malusi Gigaba has announced that the South African government will be selling some of its shares in Telkom to meet budget requirements, as expenditure is estimated to overshoot its targets by ZAR 3.9 billion, BusinessTech reported. According to Gigaba, sluggish economic growth in 2017 has caused a significant reduction in the tax revenue outlook, which has eroded the government's fiscal position.  

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