Telkom Kenya says no longer pursuing joint venture with Airtel Kenya

Telkom Kenya is no longer pursuing a proposed joint venture transaction with the Kenyan unit of India's Bharti Airtel.
Telkom Kenya is no longer pursuing a proposed joint venture transaction with the Kenyan unit of India's Bharti Airtel.
Image: SUPPLIED

Telkom Kenya said on Wednesday it was no longer pursuing a proposed joint venture transaction with the Kenyan unit of India's Bharti Airtel.

Bharti Airtel had said in February 2019 its Airtel Networks Kenya unit had agreed to buy Telkom Kenya, the East African nation's smallest operator in which the state still has a 40% shareholding, after a majority stake was sold in 2007.

“After carefully reviewing the available options, Telkom has opted to adopt an alternative strategic direction and will no longer be pursuing the proposed joint venture transaction. This decision has been mutually agreed with Airtel Networks Kenya Limited,” Telkom Kenya said in a statement. — Reuters



Would you like to comment on this article or view other readers' comments? Register (it’s quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

X