Telkom sells its towers for R6.75 billion

Telkom has announced the initiation of a R6.75-billion sale agreement for its Swiftnet masts and towers business.

Telkom has announced the initiation of a R6.75-billion sale agreement for its Swiftnet masts and towers business to a consortium led by UK-based investment firm Actis.

Telkom said Swiftnet has around 4,000 sites nationwide and leases co-location space to major mobile network operators. “This decision marks a pivotal moment in Telkom’s journey towards unlocking shareholder value and streamlining our focus on core business operations,” said Telkom Group CEO Serame Taukobong.

Taukobong said that beyond the financial implications, the transaction ensures seamless continuity for Telkom’s related businesses, particularly Telkom Consumer and Openserve.

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