Telkom CEO Charges Dropped by State After Court HearingBy
Maseko had been charged with driving using false number plates
South African government owns about 40 percent of Telkom
Sipho Maseko, the chief executive officer of South African phone company Telkom SA SOC Ltd., had charges of driving a car with falsified number plates dropped by the state after he appeared in a Johannesburg court.
Maseko declined to comment as he left the Magistrate’s court in the city’s Wynberg suburb on Friday. The case against him was withdrawn, according to a court official.
“Mr. Maseko welcomes the decision,” Telkom spokeswoman Jacqui O’Sullivan said in an e-mailed response to questions. “The resolution of this matter now allows Mr. Maseko to put the issue behind him.”
The CEO of the country’s biggest landline-phone provider displayed a different car license plate to the one he was issued from February 2013 to July 2014 and incurred traffic fines of 18,000 rand ($1,320) in someone else’s name, according to a document filed by prosecutors at the Wynberg court in July.
Telkom shares were unchanged at 60 rand as of 11:19 a.m. in Johannesburg. The stock is down 14 percent this year, valuing the company at 32 billion rand. Pretoria-based Telkom is about 40 percent owned by the South African government.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.