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Africa|Business|Infrastructure|Infrastructure
Africa|Business|Infrastructure|Infrastructure
africa|business|infrastructure|infrastructure

Icasa gives Telkom permission to dispose of towers, masts business

The Telkom logo

Photo by Bloomberg

17th December 2024

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

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Industry regulator the Independent Communications Authority of South Africa (Icasa) has approved mobile network operator Telkom's R6.75-billion disposal of its Swiftnet business, which houses its masts and towers business.

The decision obtained from Icasa on December 13 results in a change of control of Swiftnet’s licences and fulfils one of the suspensive conditions for the disposal.

Telkom emphasised that the implementation of the disposal remains subject to the fulfilment or waiver of several suspensive conditions.

The consortium acquiring the Swiftnet business is an infrastructure fund managed by a subsidiary of infrastructure investment company Actis and an infrastructure vehicle 100%-owned by wealth fund Royal Bafokeng Holdings.

Telkom has already met two other suspensive conditions, namely shareholder approval at the general meeting on May 24 and the approval of the competition authorities.

The disposal remains subject to the fulfilment or, to the extent permissible, waiver of the remaining outstanding suspensive conditions, it added.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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