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Telkom is pleased to announce that it has obtained the necessary approval from the Competition Tribunal of South Africa to dispose of its masts and towers business, which is housed in Swiftnet SOC Limited, to a purchasing consortium.
"This approval follows the recommendation from the South African Competition Commission and represents a significant milestone in the process", said Serame Taukobong, Group CEO of Telkom.
The conditions set forth by the Competition Tribunal have been accepted by the purchasing consortium comprising of an infrastructure fund managed by a subsidiary of Actis LLP and an infrastructure vehicle wholly owned by Royal Bafokeng Holdings.
The disposal remains subject to the remaining outstanding suspensive conditions, as detailed in the circular to the shareholders.
"Once the remaining suspensive conditions have been fulfilled or waived, as applicable the disposal will be fully implemented", concluded Taukobong.
ENDS