Telkom reports revenue growth but lower core earnings
The company is facing higher operating costs as load-shedding continues
Telkom is one step closer to completing a deal that would see it selling off its masts and towers operation, Swiftnet, more than one-and-a-half years after an attempt to float the business on the JSE failed. Two bidders are now vying to buyout the entity.
The partially state-owned operator has been on a journey to realise value from its sprawling portfolio since 2019, when former CEO Sipho Maseko devised a plan that would close the value gap between its share price and the sum of its parts, made up of SA’s third largest mobile business, the country’s largest fibre operator Openserve, its technology unit BCX, properties under Gyro, and tower division Swiftnet...
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