Telkom gains competition tribunal approval for masts and towers sale

Telkom SA SOC Limited has secured approval from the South African Competition Tribunal for the sale of its masts and towers business, following the Competition Commission’s recommendation, clearing one of the key regulatory hurdles the deal faces.

Shareholders were initially informed on 24 May 2024, following a general meeting where they approved the sale of Telkom’s masts and towers division, operated by Swiftnet SOC Limited. The assets are being sold to a consortium that includes an infrastructure fund managed by a subsidiary of Actis LLP and Royal Bafokeng Holdings’s fully-owned infrastructure vehicle.

The deal remains subject to several conditions, as outlined in the circular distributed to shareholders on 22 April 2024.

The group noted that it will provide further updates on the remaining conditions as required by the JSE Listings Requirements.

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