Telkom Towers Sold for R6.75 Billion
22-03-2024
Telkom’s Swiftnet mast and towers operation is now owned by UK Private Equity Firm Actis in partnership with South African Royal Bafokeng Holdings.
The R6.75 billion price tag is still open to further adjustments depending on Telkom’s situation.
On Friday, 22 March, there was still a R360 million balance on a shareholder loan from Telkom to Swiftnet. Telkom announced that “At the Closing Date, a portion of the Existing Shareholder Loan of up to R225 million may remain outstanding as payable by Swiftnet to Telkom together with applicable interest on the outstanding loan amount until fully settled (Continuing Telkom Loan).”
This move is part of Telkom’s plan to focus on growing its fibre and broadband services through Openserve and Telkom Consumer, respectively.
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The materials on this website (the “Site”) are intended for informational purposes only. Use of and access to the Site and the information, materials, services, and other content available on or through the Site (“Content”) are subject to the laws of South Africa.
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