Unsurprisingly, this news was accompanied by a decrease in Telkom's share price by 7%. The CEO of Telkom, Serame Taukobong, had stated at a recent financial results presentation that the corporate entity does not require a "knight in shining armour," regardless of who it may be. Taukobong had also stated that any proposals for a takeover would remain off the boards "until somebody comes to our [board] chair with a strong letter and also proof that they can deliver".