0
General

FT buys out Alcazar Capital stake in Orange Kenya

Monday 21 January 2013 | 13:53 CET | News
France Telecom has bought the 11 percent stake owned by Alcazar Capital in Orange Kenya for an undisclosed amount, According to Business Daily,  FT also replaced Alcazar's CEO Charbel Jaoude on the Orange Kenya board. The deal means that the French firm now fully owns the 60 percent stake in Orange Kenya initially held by an entity known as Orange East Africa, a special purpose vehicle created by France Telecom and Alcazar Capital after jointly acquiring a controlling stake in the Kenyan operator in 2007. 

The latest deal closed in 2012, according to Tom Wright, the press officer of FT. He said Alcazar is no longer an indirect shareholder of Orange Kenya since mid-2012 when France Telecom-Orange acquired Alcazar's stake in the holding company OREA (Orange East Africa). Alcazar gained the stake after paying USD 83 million of the USD 390 million that the consortium led by France Telecom offered for purchase of the 51 percent stake in Orange Kenya. This earned the firm a 21.5 percent stake in Orange East Africa with the remaining share held by the French group, whose direct stake in the Kenyan operator stood at 40 percent. 

A recent balance sheet restructuring plan cut the Treasury's stake in Orange Kenya to 40 percent from 49 percent and raised France Telecom's stake to 60 percent. The French firm also wrote off debt to the Kenyan subsidiary of KES 15 billion. 


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours. Subscribe now.

Categories: General
Companies: France Telecom / Orange / Orange Kenya
Countries: Kenya
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.






17%
of all iPad users are 12-19 years old
Netherlands  |  2014 Q4

Calendar   /   Industry Events

28 Apr Akamai Technologies Q1 2015
28 Apr Twitter Q1 2015
28 Apr HTC Q1 2015
28 Apr Harmonic Q1 2015
28 Apr NTT Docomo fiscal Q4
28 Apr Orange Q1 2015
28 Apr Radcom Q1 2015
28 Apr Calix Q1 2015
28 Apr AudioCodes Q1 2015
28 Apr Telenet Q1 2015
28 Apr Telco Cloud Forum 2015
28 Apr Digital Regulation Forum
29 Apr Level 3 Communications Q1 2015
29 Apr LG Electronics Q1 2015
29 Apr Ooredoo Q1 2015
29 Apr Equinix Q1 2015
29 Apr Samsung Q1 2015
29 Apr AVG Q1 2015
29 Apr NXP Semiconductors Q1 2015
29 Apr Transmode Q1 2015
29 Apr Arris Q1 2015
29 Apr Baidu Q1 2015
29 Apr Net Insight Q1 2015
29 Apr Microsoft Build Developer Conference
30 Apr FireEye Q1 2015
30 Apr STMicroelectronics Q1 2015
30 Apr Opera Software Q2 2015
30 Apr Nokia Q1 2015
30 Apr Portugal Telecom Q4 2014
30 Apr Ruckus Wireless Q1 2015
::: More Calendar Items