5 July 2006
Telkom Announces Partial sale of Swiftnet
Telkom SA Ltd., a partly state-owned telephone company (listed on the Johannesburg Stock Exchange and the NYSE via an ADR), has announced that it intends to make 30% of the equity in its subsidiary ‘Swiftnet' for sale. It is a requirement of the regulator (Independent Communications Authority of South Africa – “Icasa”) that at least 30% of the voting capital of Swiftnet is in the hands of black (so-called “BEE”) shareholders. Refer to the department of Trade & Industry's website ( www.dti.gov.za ) for details and guidelines on this policy.
Swiftnet (Pty) Ltd. is currently a 100% owned subsidiary of Telkom SA Limited and operates a wireless data access network called Fastnet. The technology used is a wide area data communication system that provides a narrow band cellular radio service for fixed, portable and mobile applications. Incorporated in 1995, Swiftnet has expanded to over 170 base station sites and 40,000 radio-pads (a type of radio modem) nationwide. Retail (card transactions) is the main business and therefore main cities and towns have been targeted for coverage. (http://www.swiftnet.co.za/)
Interested parties may submit an Expression of Interest between July 5 and July 21, 2006. A non-refundable “documentation fee” will be required in order to obtain the information memorandum and non-disclosure agreement.
Indicative offers must be submitted by 7 th August, and final offers thereafter. No date is given for submission of final offers.
For additional information, contact:
Jeffrey L. Jackson
Johannesburg , South Africa
Tel: 27-11-325-4452
Email: jeffjac@global.co.za
Alan Bowser
Silver Spring , MD.
Tel: 1-301-608-3932
Email: asblaw@aol.com
John Guess
Houston , TX .
Tel: 1-281-443-7807
Email: jfguess@usa.net
27-Jun-06
Transnet Calls for Expressions of Interest for Disposal of Two Business Units
Transnet has begun the process of disposing of its non-core assets by calling for expressions of interest from potential investors for the acquisition of two business units:
• Freight Dynamics
Freight Dynamics is a major road transport company which provides long-haul freight within South Africa and the region; short-haul road transport; intermodal connections; and ancillary services such as warehousing, consolidation and insurance. The staff complement is some 1,800 people. Principal assets comprise 714 truck tractors and 2,439 trailers and containers.
• Viamax Holdings
Viamax Holdings is a fleet management entity with two subsidiaries, Viamax Fleet Management and Viamax Fleet Solutions. It currently manages a fleet of approximately 7,000 vehicles, ranging from passenger vehicles to heavy duty and specialized vehicles.
Interested parties may register their interest between June 26 and July 12. Thereafter, a “EOI pack” will be made available. Formal expressions of interest must be received no later than July 28, and must be accompanied by a non-disclosure agreement and a non-refundable deposit of R25,000.
For additional information, contact:
Jeffrey L. Jackson
Johannesburg , South Africa
Tel: 27-11-325-4452
Email: jeffjac@global.co.za
Alan Bowser
Silver Spring , MD.
Tel: 1-301-608-3932
Email: asblaw@aol.com
John Guess
Houston , TX .
Tel: 1-281-443-7807
Email: jfguess@usa.net