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Competition Tribunal Approval Obtained for the Disposal of Telkom’s Masts and Towers Business
TELKOM SA SOC LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1991/005476/30)
Share code: TKG
JSE bond code: BITEL
ISIN: ZAE000044897
("Telkom" or the "Company")
COMPETITION TRIBUNAL APPROVAL OBTAINED FOR THE DISPOSAL OF TELKOM'S MASTS
AND TOWERS BUSINESS
Shareholders are referred to the announcement released on SENS on 24 May 2024, wherein the
Company advised that the requisite approval of Shareholders was obtained at a general meeting
held on Friday, 24 May 2024, for the Disposal of its masts and towers business housed in Swiftnet
SOC Limited to a purchasing consortium comprising: (i) an infrastructure fund managed by a
subsidiary of Actis LLP; and (ii) an infrastructure vehicle 100% (one hundred percent) owned by
Royal Bafokeng Holdings (the "Purchaser").
Shareholders are additionally referred to the circular distributed to Shareholders on 22 April 2024
(the "Circular"). Capitalised terms used but not defined herein shall bear the same meanings
ascribed to them in the Circular.
As detailed in the Circular, the implementation of the Disposal is subject to a number of Suspensive
Conditions.
By way of update, Shareholders are hereby advised that an important milestone has been achieved,
in that following the recommendation from the South African Competition Commission, the
Competition Tribunal of South Africa approved the Disposal on 03 September 2024, subject to
certain conditions which have been accepted by the Purchaser. Accordingly, the Suspensive
Condition requiring that the Disposal be approved by the South African Competition Authorities has
been fully satisfied.
The Disposal remains subject to the remaining outstanding Suspensive Conditions, as detailed in
the Circular.
Further updates will be released in accordance with the JSE Listings Requirements, if applicable.
Centurion
4 September 2024
JSE Sponsor to Telkom
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 04-09-2024 08:30:00
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