Kenya Gains Complete Authority Over Telkom Kenya

Reported by Yash Bhardwaj October 6th, 2022 at 06:50 pm

With the settlement of KES6.09 billion (US$50.3m) for the 60% majority interest owned by British investment firm Helios Investment Partners, the Kenyan government reclaimed total control over Telkom Kenya, according to Ecofin Agency. The government wished to prevent an investor who did not support its future intentions for Telkom Kenya from acquiring the majority interest.

Highlights

With over 5.2 million subscriptions, Telkom Kenya has risen from 3.3 million in 2016, placing it in 3rd spot, according to Ecofin Agency.
Only after investment company disclosed its intentions to part ways with the operator, sources added that the government had first dibs on the shares.
Including both sides blaming governmental delays, the Telkom and Airtel deal failed in 2020.

With the settlement of KES6.09 billion (US$50.3m) for the 60% majority interest owned by British investment firm Helios Investment Partners, the Kenyan government reclaimed total control over Telkom Kenya, according to Ecofin Agency.

Detailed Information About the Complete Authority Over Telkom Kenya

The investment company has lost faith, according to sources who spoke to Business Daily, as a result of the inability to combine Telkom and Airtel, a move intended to create a more competitive organisation against market leader Safaricom. With over 5.2 million subscriptions, Telkom Kenya has risen from 3.3 million in 2016, placing it in 3rd spot.

Only after the investment company disclosed its intentions to part ways with the operator sources added that the government had first dibs on the shares. The government wished to prevent an investor who did not support its future intentions for Telkom Kenya from acquiring the majority interest. Including both sides blaming governmental delays, the Telkom and Airtel deal failed in 2020.