Telkom is close to finding investors for its R12bn masts and towers business, gradually moving a step closer to releasing value trapped in its vast infrastructure that accounts for nearly three-quarters of its market cap.
The R15bn partially state-owned telecoms operator has long acknowledged the need to separate its sprawling properties, specifically masts and towers, from the rest of the group, saying the unit’s value was not reflected in its share price.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.