Telkom is just weeks away from announcing the sale of its masts and towers business.
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Telkom has decided to hit pause on dividend pay-outs for longer than expected as it battles tough market conditions.
But the former telecommunications monopoly faces huge challenges if it hopes to remain a significant market player.
The telecommunications operator has reported a poor set of interim results for the six months to end-September 2022.
Telkom is considering all “viable” options for its towers and masts business, Swiftnet, including the sale of a majority stake in the company.
Telkom has reported a decline in full-year revenue of 1.1%, to R42.8-billion. It has blamed tough competition and the weak state of the economy.
In a blow to shareholders who had been hoping for an imminent “value unlock”, Telkom has elected to postpone the separate listing of Swiftnet.
New Telkom CEO Serame Taukobong has a challenge on his hands: the mobile growth story that underpinned the business in recent years appears to be ending.
Vodacom Group will spin off its South African tower portfolio into a separate business and may seek partners for the newly created entity.
Telkom burned through close to R1-billion cash in the most recent six months.