Edward West edward.west@inl.co.za TELKOM plans to list its masts and towers business, Swiftnet, on the JSE before the end of March next year and use the proceeds to reduce debt and expand the business, chief executive Sipho Maseko said yesterday.
“Significant progress has been made, including formal engagements with the JSE. Telkom believes a separate listing of Swiftnet will affirm the valuation of the masts and towers business and its contribution to the overall valuation of the Telkom business, thereby unlocking further value for Telkom,” the group said at the release of results for the six months to September 30.
Maseko said the listing of Telkom’s fibre broadband business Openserve might be next on the cards for a separate listing. “At the moment the sum-of-the-parts valuations of these businesses is…