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. 


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.






60%
of Dutch Mobile customers prefer phone for contact with provider
Netherlands  |  july 2014

Calendar   /   Industry Events

23 Oct Telenet Q3 2014
23 Oct Tele2 Q3 2014
23 Oct Rogers Communications Q3 2014
23 Oct Telekom Austria Q3 2014
23 Oct America Movil Q3 2014
23 Oct Orange Q3 2014
23 Oct Sonus Networks Q3 2014
23 Oct Sequans Communications Q2 2014
23 Oct Altera Q3 2014
23 Oct Nokia Q3 2014
23 Oct ADVA Optical Networking Q3 2014
23 Oct Synaptics Q3 2014
23 Oct Microsoft Q1 FY 2014/15
23 Oct Comcast Q3 2014
23 Oct Ingram Micro Q3 2014
23 Oct Amazon.com Q3 2014
23 Oct Netgear Q3 2014
23 Oct ShoreTel Q1 FY 2014/15
23 Oct 2nd Enterprise Mobility China Summit 2014
24 Oct DNA Q3 2014
24 Oct Belgacom Q3 2014
27 Oct Ooredoo Q3 2014
27 Oct PMC-Sierra Q3 2014
27 Oct Twitter Q3 2014
27 Oct Meru Networks Q3 2014
27 Oct Net Insight Q3 2014
27 Oct Telecoms Social Network Summit
28 Oct Internap Q3 2014
28 Oct Extreme Networks fiscal Q1
28 Oct Synchronoss Q3 2014
::: More Calendar Items