Difficult to tell how big problem is 'until Tongaat Hulett releases results'

Gary McNamara of Sanlam Private Wealth says although Telkom would still be by quite some distance the third mobile operator if it had acquired Cell C, which is always a difficult place to play, it really needs the numbers.

But by the same token Telkom was not prepared to pay up as much as Cell C would have wanted.

He says it very sad for a company with a history such as that of Tongaat Hulett to suffer the scandal and reckons it is difficult to tell how big the problem is until the company released results.

I think, again, it is a case of management not wanting to tell the market the bad news, kick it down the road because of, perhaps, share options or some sort of incentive structure that they've got.

Gary McNamara of Sanlam Private Wealth

Eventually, you just can't keep kicking the can down the road and something triggers, maybe less land sales going forward and then a can of worms comes home to roost.

Gary McNamara of Sanlam Private Wealth

Listen below for more...


Recommended

by NEWSROOM AI
Read More
Telkom desperately wants Cell C (despite its flirtation with MTN)

Telkom desperately wants Cell C (despite its flirtation with MTN)

Cell C is in a losing race against MTN and Vodacom. Telkom is not going to let this one go, says TechCentral’s Duncan McLeod.

[LISTEN] Telkom low data prices causing mobile competitors to slash data costs

[LISTEN] Telkom low data prices causing mobile competitors to slash data costs

Techcentral. founder and editor Duncan McLeod says it marks a trend of data costs continuing to fall.

Cell C is stumbling

Cell C is stumbling

Cell C is facing severe financial difficulties and suspicions of “irregular business practices”, says its CEO Douglas Stevenson.

Don’t fall for spending disguised as saving

Don’t fall for spending disguised as saving

July is National Savings Month and Coronation is encouraging South Africans to save more by putting money aside every month.

Coronation steps up to boost education with the help of Jonathan Jansen

Coronation steps up to boost education with the help of Jonathan Jansen

The Coronation CSI programme involves upskilling teachers, principals, and pupils in the foundation phase of education.

Popular articles
Want to start a small business? Lessons from a successful serial entrepreneur...

Want to start a small business? Lessons from a successful serial entrepreneur...

The Money Show’s Bruce Whitfield interviews Nic Haralambous, founder (at the cost of R5000!) of funky sock company Nic Harry.

Considering emigration? Financial planner discusses the affordability of leaving

Considering emigration? Financial planner discusses the affordability of leaving

Can you afford to leave South Africa? Certified Financial Planner (CFP) Barry O'Mahony on what to consider before deciding.

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

'SAA’s collapse plays nicely into hands of a politically constrained Ramaphosa'

After dithering for fear of spending political capital, SAA is now out of the President’s hands, says Pieter du Toit (News24).

There is no Ubuntu in how Khanya Cekeshe has been treated - Thuli Madonsela

There is no Ubuntu in how Khanya Cekeshe has been treated - Thuli Madonsela

Former public protector says the eight-year sentence was too harsh and it shouldn't matter that he was not a Wits student.

‘South Africans are getting poorer and poorer because of politics’

‘South Africans are getting poorer and poorer because of politics’

SAA is a classic example, says Isaah Mhlanga, Chief Economist at Alexander Forbes Investments.

[WATCH] Grandpa with new iPhone wanting to set pictures for contacts goes viral

[WATCH] Grandpa with new iPhone wanting to set pictures for contacts goes viral

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Couple dancing in traffic has social media talking

[WATCH] Couple dancing in traffic has social media talking

Khabazela shares tweets and Facebook posts that have gone viral.

How to make your first R1 million (after that it just becomes so much easier)

How to make your first R1 million (after that it just becomes so much easier)

Rich. Wealthy. Financially free... Call it what you will; the first million is how you get there. Warren Ingram on his book...

Why is Mauritius rich and Madagascar poor?

Why is Mauritius rich and Madagascar poor?

Comparing Madagascar and Mauritius – a tale of two islands, by the Gordon Institute of Business Science's Dr Lyal White.