Telkom has reached an agreement sell Swiftnet in a deal that gives the towers unit an enterprise value of R6.75-billion.
an agreement with a consortium made up of Actis and Royal Bafokeng Holdings to sell Swiftnet, and towers and masts business, in a deal that gives Swiftnet an enterprise value of R6.75-billion.
Telkom will sell Swiftnet to a newly created business called Towerco Bidco, which is 70% held by Actis, a global private equity firm, and 30% by Royal Bafokeng Holdings. “This decision marks a pivotal moment in Telkom’s journey towards unlocking shareholder value and streamlining our focus on core business operations,” Telkom Group CEO Serame Taukobong said in a statement on Friday. Swiftnet owns about 4 000 high sites around South Africa.
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