Communications regulator Icasa has cleared the sale of Telkom’s masts and towers enterprise, Swiftnet, to a non-public fairness consortium led by Actis.
The approval of the switch of Swiftnet’s telecommunications licences by Icasa was the final hurdle in the way in which of the deal being consummated.
“This marks the ultimate main regulatory requirement for the R6.75-billion transaction to a consortium led by Actis, alongside Royal Bafokeng Holdings. Icasa’s approval, which ends up in a change of management of Swiftnet’s licences, comes after unanimous shareholder approval secured in Might 2024, and Competitors Tribunal approval obtained in September 2024,” Telkom mentioned in a press release to shareholders on Tuesday.
“The sale of Swiftnet’s portfolio of roughly 4 000 towers and masts marks a major step within the implementation of Telkom’s transformative strategic journey to give attention to core operations whereas realising the worth in non-core property,” the corporate mentioned.
Telkom CEO Serame Taukobong mentioned within the assertion that the proceeds from the sale will strengthen the corporate’s stability sheet by lowering debt and offering extra capital. “This may allow us to focus our funding in next-generation know-how infrastructure,” he mentioned.
“We’re making a centered and agile Telkom that may spend money on progress areas whereas sustaining our place as South Africa’s main telecoms infrastructure supplier.”
Learn: Telkom urges Icasa to scrap name termination charges fully
The Swiftnet transaction is predicted to shut as soon as all remaining administrative situations are fulfilled. – © 2024 NewsCentral Media
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