Telkom mulling $1 billion tower sale: report
Telkom is considering a sale of a network of its telephone towers in South Africa. This is according to a report by Bloomberg.
Bloomberg stated that people with knowledge of the matter told it a potential Telkom tower sale would fetch $500 million to $1 billion.
According to the report, Telkom is working with Accenture on the sale and bids are expected as soon as next week.
Companies like IHS Holding of Nigeria and Helios Towers Africa are expected to show an interest in the towers.
Telkom has been looking at ways to reduce its expenditure on Telkom Mobile, which includes network management services and reciprocal roaming agreements with MTN.
Under these agreements MTN will take over financial and operational responsibility for the rollout and operation of Telkom’s radio access network. Each party will be able to roam on either party’s network.
“In keeping with our plans to de-risk our mobile business we have explored various options in recent months,” said Telkom CEO Sipho Maseko. “I am pleased that we are at this stage of engagement with MTN.”
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