Shares in Telkom rose after it said its interim adjusted headline earnings per share will climb by as much as 60%.
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The Competition Tribunal has accepted a recommendation that Telkom be allowed to sell its towers business.
Revenue from “next-generation network” services now account for more than four-fifths of Telkom’s group revenue.
The Competition Commission has recommended the approval for the sale of Telkom’s masts and towers business.
TechCentral asked some of South Africa’s biggest ICT players to share their views on where they think the new communications minister should prioritise his efforts.
Telkom shareholders, including the government, have voted in favour of selling the company’s masts and towers business.
Telkom shareholders will soon vote on a plan to sell the group’s towers and masts to a consortium led by private equity firm Actis.
Telkom has reached an agreement to sell Swiftnet in a deal that gives the towers unit an enterprise value of R6.75-billion.
Telkom has reported a 2% year-on-year improvement in revenue in the third quarter of its financial year.
Telkom appears to need more time than it anticipated to conclude a deal to sell its tower assets.