Telkom’s decision to sell its stake in Vodacom ranks as the biggest business blunder in South Africa’s telecommunications market.Vodacom, which launched South Africa’s first GSM network in 1994, was a joint venture between Telkom , Vodafone , and Venfin .
When Venfin decided to sell its stake in Vodacom in 2005, Telkom passed on the opportunity, and Vodafone snapped it up for around R16 billion. Today, Vodacom has a market cap of R230 billion. It means that Telkom’s former 50% holding would be valued at R115 billion.
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