South Africa to sell Telkom and Vodacom shares to raise $870M for public power utility Eskom

South Africa‘s government is planning to inject USD 870 million into public power utility Eskom, and it may sell its stakes in Telkom and Vodacom to raise the money.

Reuters reported that the government may supply the funds as soon as June 2015.

National Treasury has already identified a viable strategy to raise the required amount, Treasury spokesman Jabulani Sikhakhane said. Because of the commercial sensitivities involved, Sikhakhane said the government cannot provide details, but that the process is proceeding to plan

Read more: South Africa to sell Telkom, Vodacom shares to fund Eskom – Telecompaper.

Recommended