Shares in EOH fell as much as 7.5% on the news in morning trading
The Microsoft sign is shown on top of the Microsoft Theatre in Los Angeles, California, US, on October 19 2018. Microsoft has confirmed the termination of its contract with EOH. Picture: MIKE BLAKE
EOH’s share price fell as much as 7.5% to R13 by midday on Monday before paring losses to close at R13.52. This has pushed the slide since the end of 2018 to just under 55%, shaving off about R3bn from the company’s market capitalisation. As for the latest notices, EOH said it was still assessing the impact but estimated that it would be less than R20m during the current financial year.
“There is a lot of rumour going around. For Microsoft to completely distance itself when EOH is their biggest partner in SA, there must be something there.”
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