News Formal

Telkom Sells Swiftnet Mast and Tower Business for R6.75 Billion

  • 📰 ITWeb
  • ⏱ Reading Time:
  • 20 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 53%
  • Publisher: 51%

Business News

Telkom,Swiftnet,Mast

Telkom 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.

Telkom has sold its Swiftnet mast and tower business to a consortium of equity investors for R6.75 billion. The company today announced a step forward in its strategic transformation with the initiation of a sale agreement for all shares in its wholly-owned Swiftnet subsidiary.

Swiftnet, a key player in the South African market, has extensive masts and towers infrastructure, with approximately 4 000 installations and leasing co-location space to major mobile network operators, says Telkom in a statement. This decision marks a pivotal moment in Telkom's journey towards unlocking shareholder value and streamlining our focus on core business operations

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 45. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

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.
Source: BusinessTechSA - 🏆 24. / 61 Read more »