Kenya: Telkom, Airtel abandon merger talks

Kenya: Telkom, Airtel abandon merger talks

Telkom Kenya and Bharti Airtel’s local mobile unit Airtel have reportedly abandoned plans to merge their operations, in a move that would have created a stronger competitor to market leader Safaricom. Reuters cites an industry source as saying that the proposed merger broke down over a number of issues, particularly Airtel resisting making a commitment to significant future investments in the company.

In other news, Business Daily writes that Tanzanian billionaires Aunali and Sajjad Rajabali have bought ten million shares in Safaricom, worth KES295 million (USD2.9 million), becoming the company’s third largest individual investors.

Source: TeleGeography



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