Telkom has announced its plans for the recently spun out subsidiary, Gyro, which was made responsible for managing the company’s masts and towers, as well as its property development and property management services, from 1 April this year.
Pictured: Deon Fredericks, Telkom Group CFO
The Group said:
"Our benefit from the gain on sale of assets will reduce from the previous year, as we focus on extracting long-term value from the balance of our property portfolio."
According to Telkom's latest annual report, the group currently has R25.5 billion in property, plant and equipment assets. It noted that Gyro's acquisition in particulary was sure to prove a solid long-term investment for the group.
