South Africa’s biggest Internet Service Provider, Telkom, has plans to sell its Swiftnet tower.
CEO Serame Taukobong, says part of the money from the Swiftnet sale will contribute to the company’s negative free cash flow and allocate additional investment in capital expenditures for their fibre business.
Taukobong also stated that Telkom’s tower portfolio has two solid bidders.
Telkom is open to offers from other companies and there is no guarantee that IHS will acquire the unit.
Nedbank Group Ltd., the Swiftnet business is valued at approximately R8.7 billion ($482 million) based on anticipated future cash flows.