{"id":801012,"date":"2024-03-22T13:06:19","date_gmt":"2024-03-22T13:06:19","guid":{"rendered":"https:\/\/telecomlive.in\/web\/2024\/03\/22\/south-africas-telkom-enters-deal-to-sell-mast-and-towers-unit-for-357-mn\/"},"modified":"2024-03-22T13:06:19","modified_gmt":"2024-03-22T13:06:19","slug":"south-africas-telkom-enters-deal-to-sell-mast-and-towers-unit-for-357-mn","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/03\/22\/south-africas-telkom-enters-deal-to-sell-mast-and-towers-unit-for-357-mn\/","title":{"rendered":"South Africa&#8217;s Telkom enters deal to sell mast and towers unit for $357 mn"},"content":{"rendered":"<p>Telkom, South Africa&#8217;s third-biggest telecom company, said on Friday it had entered into an agreement to sell its masts and towers business, Swiftnet, for 6.75 billion rand ($357 million).<\/p>\n<p>The purchaser is Towerco Bidco Proprietary Limited, a consortium of equity investors led and managed by Actis, which holds 70% of the purchasers&#8217; shares, while Royal Bafokeng Holdings holds the remaining 30% stake, Telkom said.<\/p>\n<p>&#8220;This decision marks a pivotal moment in Telkom&#8217;s journey towards unlocking shareholder value and streamlining our focus on core business operations,&#8221; Group CEO Serame Taukobong said in a statement.<\/p>\n<p>&#8220;This divestiture aligns perfectly with our strategy to concentrate on our infrastructure assets while realising the inherent value in non-core holdings.&#8221;<\/p>\n<p>Telkom had first announced that it was in talks to sell the subsidiary to a consortium of equity investors last year.<\/p>\n<p>The transaction remains subject to shareholder and regulatory approvals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Telkom, South Africa&#8217;s third-biggest telecom company, said on Friday it had entered into an agreement to sell its masts and towers business, Swiftnet, for 6.75 billion rand ($357 million). The purchaser is Towerco Bidco Proprietary Limited, a consortium of equity investors led and managed by Actis, which holds 70% of the purchasers&#8217; shares, while Royal Bafokeng Holdings holds the remaining 30% stake, Telkom said. &#8220;This decision marks a pivotal moment in Telkom&#8217;s journey towards unlocking shareholder value and streamlining our focus on core business operations,&#8221; Group CEO Serame Taukobong said in a statement. &#8220;This divestiture aligns perfectly with our strategy [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-801012","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/801012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=801012"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/801012\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=801012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=801012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=801012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}