List of Telkom cell tower companies on the JSE

Telkom says it has made significant progress in its plan to list its masts and towers company, Swiftnet, on the Johannesburg Stock Exchange (JSE).

He said the progress includes, but is not limited to, formal engagements with the JSE.

“Telkom believes that a separate listing from Swiftnet will confirm the valuation of the masts and towers business and its contribution to the overall valuation of the Telkom business, thus freeing up additional value for Telkom,” the company said.

Telkom first announced plans to list Swiftnet in September.

Swiftnet is a Telkom subsidiary managed by Gyro.

With 6,225 masts and towers, Telkom said it was the largest independently managed tower portfolio in South Africa.

The outgoing CEO of the Telkom Group, Sipho Maseko, said that the approach to separate Telkom’s businesses has provided clear visibility of the growth potential of each unit.

Under Gyro’s leadership, Swiftnet has diversified its tenancy, with 56% of its tenants coming from industry.

According to Maseko, Telkom’s current valuation does not accurately reflect its intrinsic value and the value of the Swiftnet business is currently unrecognized.

Telkom has said it hopes to list Swiftnet before its fiscal year ends in March 2022.

Now read: MTN tried to buy Telkom – sources

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