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BUSINESS MAVERICK: Telkom shares soar on news of listing its masts and towers unit on the JSE

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A successful listing of Telkom’s portfolio of properties, masts and towers will bring a notable entity to the JSE. Telkom has 6,225 masts and towers across South Africa. Just the proposal sent Telkom’s share price up by 17%.

For more than three years, Telkom has grappled with the question of how to best manage its portfolio of properties, masts and towers.

Towers and masts were considered vital to a company’s competitive standing. But as more mobile operators have started to share their infrastructure to reduce costs and improve coverage, towers and masts have instead become valuable assets that companies are increasingly looking to monetise. Telkom’s announcement about the listing of Swiftnet sent its share price as much as 17% higher on the JSE, adding R3.3-billion to its market value. Its share price eventually finished 15% higher on Tuesday to R43.20. Investors have long expected the move by Telkom to reform the operational structure of its telecommunications infrastructure.

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