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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