Telkom Nears Completion of Swiftnet Sale in Landmark Deal
Telkom confirms all key conditions met for Swiftnet sale, with final steps underway to complete the deal with Actis and Royal Bafokeng.
Telkom has announced that all key conditions for the sale of its masts and towers business, Swiftnet, have been met, with final steps underway before closing the transaction with a consortium led by Actis LLP and Royal Bafokeng Holdings.
Shareholders are referred to the circular dated 22 April 2024 (‘Circular’) and the announcements released on SENS, the last of which was dated 17 December 2024, which sets out details of (and updates relating to) the disposal by Telkom of its masts and towers business housed in Swiftnet SOC Limited (the ‘Disposal’) to a purchasing consortium comprising:
(i) an infrastructure fund managed by a subsidiary of Actis LLP;
and (ii) an infrastructure vehicle 100% (one hundred percent) owned by Royal Bafokeng Holdings.
Capitalised terms used but not defined herein shall have the meaning ascribed thereto in the Circular.
Telkom is pleased to advise that the Suspensive Conditions to proceed to closing of the Disposal have been fulfilled other than standard Suspensive Conditions which run until the business day before closing.
The parties are accordingly proceeding to take the necessary steps to closing of the Disposal in accordance with the Sale Agreement.
