Telkom announced on Tuesday that it will write down the value of its assets by R12-billion to reflect its lower share price.
Telkom has received a downgrading by rating agency Standard & Poor's from BBB to BBB-.
After years of legal battles, Telkom is appearing before the Competition Tribunal, accused of unfair business practices and charging excessive prices.
The board of Telkom on Thursday announced the appointment of Nombulelo Moholi as chief executive officer from April 1.
The Competition Commission has recommended the approval of the proposed large merger between Vodafone and Vodacom, it said on Monday.
Foreign investors buying Kenya's Safaricom stock will pay a 0,5 shilling premium per share over the five Kenya shillings that domestic investors will be paying, the government announced on Wednesday. The offering generated over $1,25-billion in bids from established institutional investors, Kenya's privatisation commission said.
Telecommunications heavyweight Telkom remained the talk of the town during the morning session on Monday as news of a potential buyout and negotiations with the UK's Vodafone set pulses racing. However, the market as a whole was mixed as resources generally gained some ground, but banks felt the heat from a struggling sector in the United Kingdom.
South Africa's swim stars are set to gather in Cape Town this weekend for the final national swimming camp in home waters before they take up the challenge in a series of international galas prior to competing at the Beijing Olympic Games in August.