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.