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Shareholding structure limits Vodacom's expansion, says outgoing CEO

9 June 2008
 
Vodacom CEO Alan Knott-Craig, who on Monday made his resignation official, said that it was time to change the company's shareholding structure, arguing that the current structure was limiting its expansion possibilities.

South Africa's fixed-line operator Telkom and the UK's Vodafone each owned a 50% stake in the local mobile operator.

Knott-Craig explained that it was difficult for Vodacom to make acquisitions in South Africa, and the rest of the continent, as its shareholders also had their designs on Africa.

"Horizontal growth and expansion is never going to really happen unless we can get the value unlocked," he said at the company's annual results presentation, adding that many would agree the shareholders had to get out of the deadlocked situation it was in.

Last week, Telkom confirmed that a consortium, led by Mvelaphanda Holdings, was interested in making a bid for Telkom, but on the condition that it unbundled i...

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