S.Africa's Telkom shares down after CEO's resignation

Mon Nov 5, 2012 7:12am GMT

JOHANNESBURG (Reuters) - Shares of Telkom South Africa dropped over 2 percent in early Monday trade after the landline provider said its chief executive Nombulelo Moholi would leave the company in six-months time.

The stock fell 2.5 percent to 17.75 rand as at 0706GMT, and more than 50 percent since Moholi took the helm at the loss-making firm last year.

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UK £ USD =1.2954
Euro USD =1.1395
Rand USD =0.0774