Telkom South Africa plans separate listing of tower and mast business

News Wireless South Africa 21 SEP 2021
Telkom South Africa plans separate listing of tower and mast business

Telkom South Africa said it's pursuing a separate listing of its masts and towers business, Swiftnet, on the Johannesburg Stock Exchange. In a statement, the company advised its shareholders that a separate listing for Swiftnet will affirm the valuation of the infrastructure and its contribution to the overall value of the Telkom business, thereby unlocking further value for the group. Swiftnet is a Telkom subsidiary under management by Gyro.

According to Telkom, unlocking value from Telkom’s portfolio of businesses is a key component of the company’s financial framework and will afford Telkom management flexibility to rebase the balance sheet and reinvest in the business. Under the management of Gyro, Swiftnet has diversified its tenancy with most of its tenants coming from others in the industry.

Categories:

Mobile

Companies:

Swiftnet,  Telkom

Countries:

South Africa

Tags:

Shareholders & subsidiaries, Network equipment, Network operations services, Wireless, Wholesale, Corporate strategy, Financial funding, M&A buyouts & divestments

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