Telecommunications group Telkom has been given the green light by the Independent Communications Authority of South Africa (Icasa) for the disposal of its masts and towers business.
The group said on Monday Icasa approved the sale on December 13.
In April, Telkom announced the planned sale of its masts and towers business housed in Swiftnet for R6.75bn to a consortium consisting of an infrastructure fund managed by a subsidiary of Actis and an infrastructure vehicle 100% owned by Royal Bafokeng Holdings.
The Competition Commission approved the deal in September after shareholders gave support to the transaction in May.
In November, the group reported an almost 10% jump in profit at the halfway stage as its cost optimisation initiatives started to yield results.
Profit for the six months ended September was up 9.7% to R1.07bn, but on an adjusted basis profit was 67.9% higher at R1.64bn.
Group revenue for continuing operations was up 1.9% to R21.4bn, with mobile service revenue increasing 10% and fibre data service revenue rising 15.5%.
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Telkom gets Icasa nod for sale of masts business
Telkom announced the planned disposal of its masts and towers business housed in Swiftnet for R6.75bn in April
Image: Reuters/Siphiwe Sibeko
Telecommunications group Telkom has been given the green light by the Independent Communications Authority of South Africa (Icasa) for the disposal of its masts and towers business.
The group said on Monday Icasa approved the sale on December 13.
In April, Telkom announced the planned sale of its masts and towers business housed in Swiftnet for R6.75bn to a consortium consisting of an infrastructure fund managed by a subsidiary of Actis and an infrastructure vehicle 100% owned by Royal Bafokeng Holdings.
The Competition Commission approved the deal in September after shareholders gave support to the transaction in May.
In November, the group reported an almost 10% jump in profit at the halfway stage as its cost optimisation initiatives started to yield results.
Profit for the six months ended September was up 9.7% to R1.07bn, but on an adjusted basis profit was 67.9% higher at R1.64bn.
Group revenue for continuing operations was up 1.9% to R21.4bn, with mobile service revenue increasing 10% and fibre data service revenue rising 15.5%.
BusinessLIVE
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