0
Wireless

Airtel Kenya auditors issue warning over debt

Thursday 1 August 2019 | 11:29 CET | News
Interactive webinar: Vodafone Ziggo deep dive. What is the strategy for the coming years? Where does it stand in relation to its competitors? Join us on January 21st 14:00 CET for a professional profile of VodafoneZiggo in 45 minutes. Register here ...
Airtel Kenya's auditors have raised the red flag on the company's financial health after it posted a KES 2.89 billion loss in 2018, raising its cumulative losses to KES 68.09 billion, Business Daily reported. Airtel is in merger negotiations with government-owned Telkom Kenya and is now insolvent to the tune of KES 8.14 billion, as the gap between its liabilities and assets widened from the KES 2.86 billion recorded in 2017.  

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



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: Mobile & Wireless
Companies: Airtel Kenya / Telkom 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.


Related

Telkom, Airtel Kenya abandon plans for merger

Published 05 Aug 2020 15:28 CET | Kenya
Telkom Kenya and Airtel Kenya have abandoned their proposed merger, after the companies were unable to secure regulatory approval ...

Safaricom seeks KES 1.2 bln debt before Airtel-Telkom merger

Published 05 Sep 2019 09:21 CET | Kenya
Safaricom has dismissed claims that it is delaying the merger of Airtel and Telkom, saying it has raised valid concerns which it ...

Telkom Kenya to make 575 workers redundant after merger with Airtel

Published 01 Aug 2019 09:19 CET | Kenya
Telkom Kenya has announced plans to make 575 employees redundant to accommodate the new structure when it merges with Airtel ...

Telkom Kenya could retain name for ICT unit after Airtel merger

Published 15 Jul 2019 11:09 CET | Kenya
Telkom Kenya could still retain its brand name for its ICT business even after the merger with Airtel Kenya, Business Daily ...

Telkom to hold 32% stake in merger with Airtel Kenya

Published 01 Jul 2019 09:19 CET | Kenya
Airtel will be the majority shareholder in its planned merger with Telkom Kenya, reports The Standard citing Airtel Africa ...

Telkom Kenya retains its debts in merger with Airtel

Published 08 Apr 2019 09:22 CET | Kenya
Telkom Kenya will retain its billions of shillings worth of debt as it transfers its mobile operations, enterprise and carrier ...





Calendar   /   Industry Events

19 Jan Netflix Q4 2020
19 Jan Telefonica Germany Strategy Update
21 Jan Intel Q4 2020
21 Jan Modern Times Group EGM
::: More Calendar Items