Telkom SA SOC Limited
Registration number 1991/005476/30
JSE share code: TKG
JSE bond code: BITEL
("Telkom" or the "Company")
Shareholders are referred to Telkom's previous communication regarding its decision to dispose of its
masts and towers business housed in Swiftnet SOC Limited ("Swiftnet"), a wholly-owned subsidiary of
the Company. Pursuant to this decision, Telkom initiated a competitive disposal process in terms of its
value unlock strategy.
Shareholders are hereby advised that Telkom is currently in exclusive negotiations with a preferred bidder
in respect of the potential disposal of Swiftnet, which, if successfully concluded, may have a material
effect on the price of the Company's securities.
The preferred bidder is a consortium of equity investors (including a Black Economic Empowerment
partner), led and managed by a reputable private equity firm. The negotiations to conclude transaction
agreements are underway and the Company will give an update in accordance with the Listings
Requirements of the JSE Limited ("JSE").
The transaction, if successfully concluded, will be subject to conditions precedent that are customary for
a transaction of this nature, including the receipt of the necessary regulatory approvals and Telkom
shareholder approval, given that it would constitute a Category 1 transaction in terms of the JSE Listings
These negotiations may or may not lead to a transaction, and therefore shareholders are advised to
exercise caution when dealing in the Company's securities until a further announcement is made.
21 November 2023
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Bowman Gilfillan Inc.
FTI Capital Advisors (DIFC) Limited
Date: 21-11-2023 07:10:00
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