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Vol 42 No 16

Published 10th August 2001


South Africa

Sell if you can

Privatisation is obstructed by unions, communists and world stock markets

The first few days of August dealt a double blow to South Africa's privatisation programme, a central part of the government's economic strategy. The plan to sell the state telephone company, Telkom, began to look unrealistic. As communications companies throughout the world announced huge losses and the prices of their shares were indiscriminately marked down, Telkom's listing on the Johannesburg and New York stock exchanges, due in November, was delayed.

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