ICT
Airtel in Talks to Buy Telkom
Bharti Airtel is in talks to buy Telkom Kenya, the East African nation’s smallest telecoms operator, to create a stronger challenger to market leader Safaricom, according to Reuters on Monday.
London-based Helios Investment, which owns a 60 percent stake in Telkom, is looking to partly cash out of the investment which it entered in 2015, the sources said.
Airtel, currently Kenya’s second-biggest telecoms operator, declined to comment. Number three Telkom was not immediately available to comment.
The move comes after the two companies held merger talks last year, only for them to abandon the plan. Telkom made the approach that time.
“Airtel is in the driving seat. They are leading the talks. Helios is partially cashing out,” said one of the sources.
The deal is expected to be completed by the end of this quarter, the sources said.
-
Latest6 days agoHigh Court opens hearing on Goodluck Jonathan’s 2027 presidential eligibility
-
Crime1 week agoServing police officers arrested with firearms amid escalating Cross River communal crisis
-
Latest5 days agoNigerian Senate reverses standing orders amendment over constitutional concerns
-
Latest3 days agoWike loyalists dominate As APC clears 33 aspirants for Rivers Assembly primaries, 65 disqualified
-
Business24 hours agoAnger, debate trail proposed $1.25bn loan amid concerns over Nigeria’s debt surge
-
Featured20 hours agoWike dismisses political speculation over meeting with APC Chairman Yilwatda
-
Business1 day agoNigeria’s 2026 debt servicing hits $11.6bn as Tinubu decries global financial inequity
-
Crime1 day agoBritish-Nigerian prisoner escapes after mistaken release from custody