S.Africa's Telkom could open sale of stake in fibre unit by March

FILE PHOTO: A logo is seen at a branch of South Africa's mobile operator Telkom at the Trade Route Mall, in Lenasia outside Johannesburg, South Africa, February 8, 2023. REUTERS/Siphiwe Sibeko

JOHANNESBURG (Reuters) -South Africa's Telkom could start the sale of a minority stake in its core fibre business by March, it said on Tuesday, as part of a slew of measures it announced to unlock value and shore up profits, pushing its shares up 7%.

Telkom, which owns a big chunk of the fast growing home and business fibre market, had been a potential acquisition target in the past for the continent's biggest telecom player MTN with smaller rival rain considering it for a merger.