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.
-
Business6 days agoThe Pros and Cons of Nigeria’s $10bn Surge in Capital Importation
-
Business4 days agoGround handlers suspend services to Max Air over unpaid debts
-
Featured1 day agoTwo arrested after England team equipment stolen ahead of World Cup opener
-
Latest6 days agoKwankwasiyya dismisses reports of Kwankwaso’s exit from NDC
-
Featured6 days agoNigeria must move beyond zoning, choose leaders based on competence ahead of 2027 – Baba-Ahmed
-
Football1 week agoChristian Eriksen stable after collapsing during Denmark–Ukraine friendly
-
Latest5 days agoReps bar first-term lawmakers, block Ugochinyere’s bid for minority leader
-
Business5 days agoNigeria’s PoS banking boom faces rising fraud threats as agents bear growing risks