provides least cost routing (LCR) to clients. The future of LCR has been questioned, with concerted efforts to get switching costs down between different cellphone networks. However, TeleMasters doesn’t seem too fazed about that. It says the company is “technology neutral” and that it provides LCR services because it’s what clients want and need. If that changes it can offer other communications strategies.
Executive chairman Mario Pretorius owns 85% of TeleMasters. That makes it look like a possible candidate for the “AltX vultures” of Finweek’s previous cover story. Except that the share price is way above the listing price of 50c/share (though the first trade was at 162c/share) and above last-stated net asset value of 52,3c/share. On that basis an offer to minorities would be expensive.
To the sceptical investor it might all look a bit too good to be true. Though that’s a healthy approach to prospective investments, in this case the share looks attrac- tive. Enjoy the ride (and dividends) along with the owner. The only thing is: Pretorius holds his 85% through the lusty sounding Maison d’Obsession Trust. Then when you notice the company’s address in Centurion is Charles de Gaulle Crescent you could start to suspect a Gaullist plot.