South African Telkom sells Swiftnet to BEE consortium Towerco Bidco for R6.75bn to reduce debt and invest in core businesses.
South African telecom company Telkom has agreed to sell its masts and towers business, Swiftnet, to Towerco Bidco, a new entity led by a black economic empowerment (BEE) consortium including an infrastructure fund managed by Actis and a Royal Bafokeng Holdings vehicle. The sale, worth R6.75 billion, will help Telkom pay down debt and strengthen its balance sheet, allowing it to invest in core businesses and pursue growth opportunities.
March 21, 2024
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