Telkom Mobile bid clarification

Telkom says it has not received a proposal from a South East Asian company, as had been widely reported.

It follows an article by BusinessTech which stated that the group’s mobile business and infrastructure “is attracting interest from companies a far afield as Malaysia”.

The article noted that one of the proposals would see an investment of up to $3 billion (R32 billion) made into South Africa, including the setting up of a factories for the building of tower infrastructure, thereby also fostering job creation.

The company said it aimed to buy up to 1,600 Telkom towers and then build an additional 8,400 towers, under a proposal, which has not yet been submitted to Telkom.

A document seen by BusinessTech, indicates interest, although no proposal has yet been made to Telkom, as confirmed by a person who would lead the discussion process.

Telkom announced at the back-end of last year, that it was in discussions with parties over future operations of its mobile business.

The telco’s under-performing business has reportedly attracted interest from local operators including Cell CMTN, and Orange, who launched a service in the SA market in 2013.

Telkom said in a statement on Wednesday:

“Telkom would like to correct statements that have been widely published regarding the sale of its tower infrastructure. The Company has not received any proposal from a South East Asian company for the sale of its mobile towers business or an investment of $3 billion.

“As previously communicated, Telkom continues to review its operations in an effort to stabilise the business and unlock value. The Company is therefore engaging with various parties to consider best options for the business. We will inform the market and all our stakeholders of any decisions made at the appropriate time.”

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Telkom Mobile bid clarification