Telkom terminates property portfolio information m
Telkom SA Limited
(Registration Number 1991/005476/06)
ISIN ZAE000044897
JSE and NYSE Share Code TKG
("Telkom")
Telkom terminates property portfolio information memorandum
Telkom has terminated its Information Memorandum ("IM") relating to the proposed
sale and lease-back of a portion of its property portfolio.
The IM that Telkom released in September last year attracted 11 consortia
bidders. Following a comprehensive assessment process, Telkom recently decided
to terminate its IM as the bidding process failed to produce a commercially
acceptable solution to Telkom.
"Telkom is extremely grateful for the time and effort that all the bidders
invested in the IM process. Telkom has no intention at this time of releasing
another IM relating to its property portfolio." said Telkom Group Executive for
Corporate Development, John B. Gibson.
Johannesburg
5 June 2003
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Litigation Reform Act of 1995, specifically Section 21E of the U.S. Securities
Exchange Act of 1934, as amended. Such forward-looking statements involve a
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the factors that could cause our actual results or outcomes to differ materially
from our expectations are those risks identified under the caption "Risk
Factors" contained in the prospectus relating to Telkom"s initial public
offering filed with the U.S. Securities Exchange Commission and available on
Telkom"s website at www.telkom.co.za/ir, including, but not limited to,
increased competition in the South African fixed-line and mobile communications
markets; developments in the regulatory environment; Telkom"s ability to reduce
expenditure; the outcome of arbitration or litigation proceedings with Telcordia
Technologies Incorporated; general economic, political, social and legal
conditions in South Africa and in other countries where Vodacom invests;
fluctuations in the value of the Rand; and other matters not yet known to us or
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