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The Competition Tribunal has approved JSE-listed Telkom’s disposal of its masts and towers business housed in Swiftnet.
This followed shareholder approval in May for the sale to a consortium comprising an infrastructure fund managed by a subsidiary of Actis and an infrastructure vehicle 100% owned by Royal Bafokeng Holdings.
“Shareholders are hereby advised that an important milestone has been achieved, in that following the recommendation from the South African Competition Commission, the Competition Tribunal of South Africa approved the disposal on September 3, subject to certain conditions which have been accepted by the purchaser,” the company said in a statement to shareholders on Wednesday.
Accordingly, the suspensive condition requiring that the disposal be approved by the South African competition authorities has been fully satisfied.
The disposal remains subject to the remaining outstanding suspensive conditions. 