South Africa’s Telkom in exclusive talks on sale of towers business
SOUTH Africa's third-biggest telecom company, Telkom, said that it is in exclusive negotiations with a preferred bidder on the possible sale of its masts and towers business, Swiftnet. Telkom, also a fixed-line phone company, said the preferred bidder is a consortium of equity investors, including a Black Economic Empowerment partner, led and managed by a reputable private equity firm. Telkom, which spun off its telecom towers and masts into a separate unit, has been exploring options to unlock value in the business, which it sees as undervalued because it is trapped in the group structure. At the same time, the…