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Telkom suspends separate listing of tower business on JSE

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United Kingdom News News

.TelkomZA has suspended the separate listing of its tower business Swiftnet on the JSE.

Telkom has shelved plans of listing of its masts and towers business separately, citing unfavourable market conditions.

“The board remains committed to its value unlock strategy which is premised on Telkom’s market capitalisation not representing its intrinsic value. Against this backdrop, the board continues to consider all strategic options that support its value unlock strategy, which include affirming the valuation of Swiftnet and its contribution to the valuation of Telkom.”

 

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