My guess is a s good as yours. However, based on the (after debt/tax) dividend Telkom hopes to pay (for its sale of 15% of vodacom), vodacom's market cap and market share against rival MTN, and the current depressed economic climate I would say anything between R60 - R90). If it is higher, then telkom shareholders would be lucky. Telkom price would drop since a significant cash generating asset (VODACOM) is being unbundled. Hopefully telkom would drop less than the vodacom price as you would then be in the money. If TELKOM drops significantly, one consideration would be to sell the vodacom shares (if it is not appreciating too much over the nexk week) and buy more telkom shares within the period that allows you to qualify for the additional dividend. You have a week to do this. You can always sell the telkom shares and repurchase more vodacom shares the day after the dividend record date and you will then also have pocketed the R19/share dividend. As usual, do your own analysis, remain unemotional about what the market is doing every day, have/calculate your own margin of safety within which you feel comfortable and exercise reasonable caution in the current volatile market. Good luck. OoT
