{"id":7974,"date":"2012-02-15T02:04:51","date_gmt":"2012-02-15T00:04:51","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/s-africa-stocks-down-investors-hung-up-over-telkom\/"},"modified":"2012-02-15T02:04:51","modified_gmt":"2012-02-15T00:04:51","slug":"s-africa-stocks-down-investors-hung-up-over-telkom","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-stocks-down-investors-hung-up-over-telkom\/","title":{"rendered":"S.Africa stocks down, investors hung up over Telkom"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Top-40 down 0.29 pct to 30,442.16<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* All-Share falls 0.28 pct to 34,112.44<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Feb 14 (Reuters) &#8211; South African stocks<br \/>\nended 0.29 percent lower on Tuesday, undermined by investors<br \/>\nbanking profits for resource companies such as Anglo American<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>Telkom declined 2.7 percent to 27.45 rand after the<br \/>\ncompetition regulator asked that the fixed-line operator be<br \/>\nfined 3.5 billion rand ($454 million) for excessive pricing<br \/>\ndating back to 2004.<\/p>\n<p><span><\/span><\/p>\n<p>The Competition Tribunal, which adjudicates on such<br \/>\ncomplaints, is currently hearing arguments from both Telkom and<br \/>\nthe Competition Commission, South Africa&#8217;s anti-trust regulator.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We&#8217;ve never liked Telkom. It&#8217;s been very, very<br \/>\ndisappointing. I don&#8217;t think they can get their model right just<br \/>\nyet. Maybe there might be a buying opportunity later on,&#8221; said<br \/>\nMichael Carlsson, a trader at Consilium Capital.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;They&#8217;ve got big competition with technology coming forward.<br \/>\nThey are too late in terms of catching up with the MTNs and<br \/>\nVodacoms,&#8221; he said, referring to rival mobile phone operators.<\/p>\n<p><span><\/span><\/p>\n<p>Telkom said the fine would be &#8220;catastrophic&#8221; and could<br \/>\njeopardise its business. Shares in rival Vodacom gained<br \/>\nmore than 2 percent to 103.50 rand.<\/p>\n<p><span><\/span><\/p>\n<p>The Top-40 index lost 0.29 percent to 30,442.16,<br \/>\nmirroring a 0.28 percent drop by the All-Share to<br \/>\n34,112.44.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Top-40 down 0.29 pct to 30,442.16 * All-Share falls 0.28 pct to 34,112.44 JOHANNESBURG Feb 14 (Reuters) &#8211; South African stocks ended 0.29 percent lower on Tuesday, undermined by investors banking profits for resource companies such as Anglo American . Telkom declined 2.7 percent to 27.45 rand after the competition regulator asked that the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7974","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7974"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7974\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}