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

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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

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 /  🏆 45. in ZA
 

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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 »