JOHANNESBURG, South Africa—The South African government postponed the initial public offering (IPO) of Telkom, the state-controlled telecom company that has a stake in mobile operator Vodacom, and Telkom’s sale of its 20-percent holding in mobile operator M-Cell.
The sale had been set to proceed before March 2002, with the government budgeting about 18 billion rand (US$1.9 billion) in proceeds for this year from the transaction. The government blamed unfavorable market conditions on the delay, according to international press reports.
