JSE-listed Telkom’s shareholders have approved the proposed R6.75-billion sale of its masts and towers infrastructure subsidiary Swiftnet to a consortium.
The consortium comprises infrastructure fund Actis Ohio Fund managed by Actis and an infrastructure vehicle 100% owned by Royal Bafokeng Holdings.
The shareholders’ approval, obtained at the information and communication technology group’s general meeting of shareholders last week, brings the deal closer to conclusion.
The transaction remains subject to the fulfilment or waiver of other remaining suspensive conditions, including the regulatory approvals required from the South African competition authorities and the Independent Communications Authority of South Africa.
Edited by: Creamer Media Reporter
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