your password has been reset successfully, Please login again.

Bharti Airtel May Buy Telkom Kenya

Bharti Airtel is in preliminary talks to procure Telkom Kenya.
BY BEx Bureau
BusinessEx
Jan 15, 2019

Sunil Mittal-led telecom company, Bharti Airtel is likely to buy Telcom Kenya. The procurement is still in the talks. The move will expand the telecom industrys share in the east African marketplace and further, increment valuation of the telecom companys African entity, according to anonymous sources.

Currently, Telkom Kenya is the third largest telecom company in Kenya, having total users plus 5 million. Safaricom and Airtel Kenya are on the second and third position respectively, with more than 30 million users and 10 million users.

Helios, a UK backed telecom company, owns a 60 per cent share in Telkom Kenya and the remaining 40 per cent are procured by Kenyas regime. ( source: ET)

At present, the Indian telecom company, Bharti Airtel is in preliminary talks with Helios. No affirmations have been received regarding the deal so far. ( source: ET)

Airtel is in the driving seat. They are leading the talks. Helios is partially cashing out, said one of the sources. ( Source: Reuters)

It is anticipated that the deal would be completed by the end of the present quarter, according to anonymous sources. While the sector regulator Communications Authority of Kenya said it was yet to be formally notified by the two operators of the latest attempt at a deal. (Source: Reuters)

The business deal can make Bharti Airtel a big emerging telecom company in the east African industry, like Jio Group in India.

Please add your Comment
SIMILAR News
April 18, 2019
The acquisition will incorporate an advanced cash consideration of INR 32 crore (ZAR 65 million) ...More
By Jaspreet Kaur
April 18, 2019
The online footwear company said that it will be using the garnered capital to hire experienced prof ...More
By Jaspreet Kaur
April 17, 2019
APL Apollo, an Indian steel manufacturer, has confirmed reports of acquiring a manufacturing unit of ...More
By Jaspreet Kaur
April 17, 2019
TA Associates, an American private equity firm has obtained a small portion of shares in the Indian ...More
By Jaspreet Kaur
April 16, 2019
The California-based Wibmo will operate as a wholly owned subsidiary of PayU ...More
By Jaspreet Kaur
April 16, 2019
CureFit is actively acquiring companies to expand its business for almost a year now ...More
By Jaspreet Kaur
April 12, 2019
The microcredit company, Sindhuja Microcredit, is the new generation financing firm which caters fin ...More
By Jaspreet Kaur
April 11, 2019
International Finance Corporation (IFC), a sister company of World Bank, has decided to endow money ...More
By Jaspreet Kaur
April 11, 2019
The Indian IT giant, Tech Mahindra will acquire 18.1 per cent stakes in Vitaran Electronics and Info ...More
By Jaspreet Kaur
April 10, 2019
The online investment market is a forthcoming theme in fintech (financial technology) sector ...More
By Jaspreet Kaur
April 10, 2019
Owing to the cut-throat competition prevailing in the e-commerce sector, the small etailer, Shopclue ...More
By Jaspreet Kaur
April 09, 2019
The Bengaluru-based healthcare firm, Mfine will raise $17 million from the first round of funding ...More
By Jaspreet Kaur