South Africa’s Openserve, currently a subsidiary of telco Telkom, and which looks after the operator’s wholesale business division, is to be given a listing on the Johannesburg stock exchange (JSE).
This move is additional to the separate JSE listing of the spinning off of its Swiftnet masts and towers division – and a likely 20 per cent public float. The South African government owns 40 per cent of Telkom.
Once the Swiftnet listing is concluded, it is very likely, CEO Sipho Maseko told local journalists, that Openserve will follow with a JSE listing of its own, also designed to unlock trapped value.
He added that there is considerable future value in Openserve, especially since it has invested considerably in fibre infrastructure in recent years, including fibre to the home and fibre direct to businesses.
Swiftnet’s client portfolio includes South Africa’s broadcasters and other mobile network operators.