Telkom rumoured to be mulling sale of mobile towers in South Africa

Telkom is considering a sale of mobile towers in South Africa, according to Bloomberg.

A potential sale of the assets could yield $500 million-$1 billion, according to people with knowledge of the matter, said the report.

Telkom is working with consulting firm Accenture on the sale, and bids could happen as early as next week. Companies including IHS Holding of Nigeria and Helios Towers Africa are expected to indicate interest. 

The South African company is looking at ways to reduce costs and has been cutting jobs in the past months. 

In 2010, Cell C sold 3,200 towers to American Tower for approximately $430 million.