Telkom in talks to sell its towers to Actis

is in talks to buy Swiftnet, the mast and tower business owned by Telkom, according to people familiar with the matter.

The deal would also include a smaller, local partner, according to the people who declined to be identified because they’re not authorised to speak on the matter. Swiftnet is valued at as much as R6.3-billion, Telkom said previously.Mobile companies have increasingly sought to spin off their towers to focus on their core business

Telkom started a competitive disposal process for Swiftnet in November, when it said it was in exclusive talks with a preferred bidder that comprised a group of equity investors “including a black economic empowerment partner, led and managed by a reputable private equity firm”. There’s no guarantee the talks will conclude successfully.

Africa has a fast growing, youthful and increasingly tech-savvy population, and firms have been buying into digital infrastructure assets to tap rising demand for broadband as smartphones become more widespread. Actis has been growing its digital infrastructure portfolio in South Africa, buying fibre company Octotel in 2020.

Source: News Formal (newsformal.com)

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