localtime from Linux manual page:
It should be an absolute or relative symbolic link pointing to /usr/share/zoneinfo/, followed by a timezone identifier such as "Europe/Berlin" or "Etc/UTC".
Here is the output of
ls -la /etc/localtime, which is not a symbolic link, in my environment:
-rw-r--r--. 1 root root 724 Apr 3 2012 /etc/localtime
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My environment is Fedora 17 running on VirtualBox.
I copied the entire Fedora 17 image from someone else. In other words, I didn't build the environment from scratch.
I'm afraid of that it's a truly mistake, or it's made for some reason.