Govt considers sale of stake in Telkom to bailout SAA

DA parliamentarian Alf Lees stunned MPs when he revealed government's proposal to sell off its stake in Telkom to raise a R10 billion bailout for ailing national airline SAA.

Lees was in possession of a Cabinet document containing Finance Minister Malusi Gigaba’s detailed proposal for the move and says he exposed the information using parliamentary privilege.

Read: SAA could receive another R10billion cash injection from govt

He says Telkom has been turned around successfully because it operates as a proper business.

Lees says SAA's debt is now becoming the taxpayers debt.

Meanwhile, Gigaba says the plan to sell off Telkom shares is just one option being considered.

Take a listen:


This article first appeared on 702 : Govt considers sale of stake in Telkom to bailout SAA


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