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Telkom offloads Swiftnet tower unit in R6.75bn deal

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The disposal entails the sale of Swiftnet to Towerco Bidco, a newly-incorporated entity comprising of a consortium of equity investors led by Actis.

Telkom has sold its Swiftnet mast and tower business to a consortium of equity investors for R6.75 billion.

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 positions Telkom as a leading infrastructure company at the heart of South Africa’s digital future. This divestiture aligns perfectly with our strategy to concentrate on our infrastructure assets, while realising the inherent value in non-core holdings.”

“Beyond the financial implications, this transaction ensures seamless continuity for our related businesses, particularly Telkom Consumer and Openserve, by guaranteeing continued access to Swiftnet's infrastructure under mutually beneficial terms,” Taukobong adds.

 

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