Telkom to seek equity partner for tower property division

CEO Sipho Maseko says that with an equity partner and selling off some properties the tower business can be scaled up quicklyTelkom Group CEO Sipho Maseko addresses the company's annual results presentation in Centurion. Picture: FREDDY MAVUNDA

The company may also sell some of its 1,332 properties to raise cash for the project, CEO Sipho Maseko said on Monday. “We expect that with an equity partner and selling off some of the properties that are not core and that we are not using anymore we can scale our tower business quite quickly,” he said after Telkom reported full-year results.The book value of the company’s property portfolio is between R10bn and R12bn, the CEO said.

Telecommunication towers are used by mobile-phone operators to extend coverage and offer high-speed data services such as 4G and 5G.“With SAa getting ready to roll out 5G there will be a lot more towers required,” Maseko said. “And the Gyro team is well placed to capitalise on that.”

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Telkom cuts 12.5% jobs, mobile boosts profitBusiness | Telkom may have posted an impressive 22.6% surge in full-year earnings but it came at a cost: At the year ending March 31, the group had 15 296 permanent jobs - down from 17 472 in the year ending March 2018. Telkom can be used as a good platform to drive the 4th industrial revolution. It has the good infrastructure for that. It can also be the driver of internet banking for the poor masses who can't afford conventional one. Good now you will see a Profit remember the Geographic's of the people of South Africa It's not a Victory to lye off Whites. Better than having 10 000 too many!!
Source: City_Press - 🏆 7. / 72 Read more »

Barrick’s offer for Acacia Mining reflects Tanzania risk, says CEOBarrick CEO Mark Bristow says Acacia has not been functioning as a company should be
Source: BDliveSA - 🏆 12. / 63 Read more »

Barrick’s offer for Acacia Mining reflects Tanzania risk, says CEOBarrick CEO Mark Bristow says Acacia has not been functioning as a company should be
Source: BDliveSA - 🏆 12. / 63 Read more »

Surprise suspension of Old Mutual CEO Peter Moyo roils markets | IOL Business ReportThe share price of Old Mutual Limited declined by 6 percent after the financial services group announced the suspension of its chief executive. busrep
Source: IOL - 🏆 46. / 51 Read more »