BREAKING | Telkom sues Ramaphosa, wants SIU probe stopped
to order an investigation into alleged malfeasance at the telecommunications operator declared unconstitutional and invalid.
Part A seeks to interdict the SIU from continuing with its investigation pending the finalisation of part B of the application. The president, Telkom says in its court filing, acted “without grounds, irrationally, arbitrarily and for the purposes not authorised by the SIU Act by authorising an investigation into vague allegations, formulated and cast in the widest possible terms, covering a period of some 15 years”.
Teurlinckx argues in the court papers that the news of the president’s decision to order the investigation into Telkom has already caused “billions of rand in shareholder value” to be lost. “The consequences of being the subject of such a publicised investigation for a JSE-listed entity such as Telkom are profound… The president could not have been unaware of these consequences when he decided to instruct the SIU to investigate Telkom.
In the founding affidavit, Teurlinckx takes aim at businessman Ed Scott, who he accuses of being the “catalyst” for the SIU’s recommendation to Ramaphosa that there be an investigation into Telkom.
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