Vodacom to create separate legal entity
Vodacom Group yesterday said it is establishing a separate legal entity for its SA tower business, after the group reported a 5.2% rise in first quarter revenue, helped by growth in its domestic operations.
A Moneyweb report notes that telecoms firms have either carved out towers businesses or sold them to tower companies to monetise part of the business and keep a chunk for future gains or use the proceeds to fund fast growing services.
Vodacom Group CEO Shameel Joosub said the tower company will be 100% owned by Vodacom Group and intends to announce the MD of the business in due course.
Vodacom said group revenue for the quarter ended on 30 June rose to R26.1bn from R24.8bn in the same quarter last year.
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Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
