Vodacom listed on JSE

The horn was blown and the Johannesburg Stock Exchange officially opened to the sounds of Vodacom’s official listing.

Delegates watched as the digital strip running around the JSE foyer as Vodacom’s first ever mention as a listed company.

The foyer was converted into a massive reception area while one of the rooms was cordoned off to accommodate the private party catering for an estimated 100 officials from Vodacom, Vodafone, Telkom, the communications ministry and the JSE. 

The topic of discussion appeared to be Sunday’s failed attempts by Cosatu and Icasa to stop the deal, using words like ‘irresponsible’ and ‘selfish’ to describe the 11 hour court action, adding if the interdict was granted Vodacom would have lost millions. 

COSATU THREATENS BOYCOTT

Cosatu warned it would call for a nationwide boycott of the cellular network provider Vodacom.

Icasa and Cosatu launched an urgent application on Sunday aimed at preventing Vodacom from listing on the Johannesburg Stock Exchange while opposing the sale of Telkom’s shares in Vodacom to British-owned Vodafone.

Judge John Murphy ruled legal recourse was available to the pair to address their concerns.

The application was dismissed with costs after the judge ruled their concerns did not outweigh the financial loss Vodacom would suffer if the interdict was granted.