SA's third largest mobile operator, Telkom, announced on Friday it has inked terms for the sale of its masts and tower business, Swiftnet, for R6.75 billion.Telkom confirmed this on Friday, with the minority partner being Royal Bafokeng Holdings, the investment arm of the Royal Bafokeng nation, and which will hold no less than 30%. The acquisition is based on an enterprise value of R6.
It also requires approval from Telkom shareholders, with a circular to follow.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism. Join our free subscription trial to unlock this story and a world of news aimed to inform, empower, and inspire.
Belgique Dernières Nouvelles, Belgique Actualités
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Telkom Sells Swiftnet Mast and Tower Business for R6.75 BillionTelkom has announced the sale of its Swiftnet mast and tower business to a consortium of equity investors for R6.75 billion. The sale marks a strategic transformation for Telkom and allows the company to focus on its core business operations.
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Telkom sells tower business for R6.75 billionTelkom is selling its towers and mast business housed within Swiftnet as part of its strategy to unlock value.
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