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Swiftnet windfall boosts Telkom’s bottom line

Even without the Swiftnet sale, Telkom is performing strongly – despite the continuing weak economy.

Telkom’s basic earnings per share will leap by at least 300% on the successful sale of its masts and towers business.

The Competition Commission has given its approval for the sale of Telkom’s masts and towers business.

Telkom on Monday renewed a “cautionary notice” to investors, saying it remains in exclusive talks with a preferred bidder.

Telkom is engaged in “exclusive negotiations” with a preferred bidder regarding the sale of Swiftnet.

While Telkom’s mobile business has made good strides in recent years, its IT business, BCX, has been struggling.