The Public Investment Corporation (PIC) is supporting former CEO Sipho Maseko’s investment vehicle in a potential bid for a large stake in Telkom or its assets. The talks involve a consortium including the PIC, Afrifund (Maseko’s investment vehicle) and Axian Telecom. They may acquire a 50% stake in Telkom or explore the purchase of Telkom’s fiber and tower units to create an African-focused infrastructure company. Telkom has been burdened by a significant debt load, prompting discussions with potential suitors such as MTN and Rain. Analysts believe that Telkom’s valuable infrastructure assets could unlock significant value for shareholders if effectively utilized.
