Telkom to use proceeds from sale of towers and masts to pay down debt
Group reports a surge in profit but plays down talk of a special dividend from the sale of Swiftnet
21 November 2023 - 09:05
UPDATED 21 November 2023 - 19:11
Embattled telecom group Telkom said it will use the proceeds from the imminent sale of its masts and towers business to pay down its debt, which dwarfs its market value.
The group on Tuesday announced it is in exclusive negotiations with a consortium of investors to sell the masts and towers that form part of its wholly owned Swiftnet subsidiary...
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