Telkom to sell tower business to global investment firm, Royal Bafokeng for nearly R7bn

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.

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