As a part of their financial result announcement, Vodacom Group has disclosed that they are going to retain the full ownership of the South African tower subsidiary.
During the past quarter we made good progress on the optimisation of our assets, which in the medium term will also positively contribute to bridging the digital divide. For instance, we are in the process of establishing a separate legal entity for our South African ‘TowerCo’ that will be 100% owned by Vodacom Group and intend to announce the Managing Director of the business in due course.
The optimisation of assets through sharing is an integral part of Vodacom Group’s strategy called the System of Advantage. The separation of our South African tower portfolio into a standalone tower company (TowerCo) business is expected to support this strategic priority by enhancing asset returns, lower costs to communicate and further our ambitions to connect for a better future. In this regard, we are making good progress with the carve-out of the portfolio and are in the process of establishing a separate legal entity that will be 100% owned by Vodacom Group.
Excerpts from the Financial Results
