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General

Kenya to raise stake in Orange Kenya

Thursday 10 December 2015 | 09:04 CET | News
Kenya plans to buy back 12 million shares, equivalent to 10 percent in Orange Kenya, raising its total shareholding to 40 percent. The decision comes amid negotiations with the expected new shareholder Helios, which is buying Orange's 70 percent stake in the Kenyan operator. According to the Daily Nation, Orange has yet to request approval from the Communications Authority of Kenya for the takeover. A new shareholding agreement between the government and Helios Investment Partners is expected to be ready by the end of the year, paving the way for French operator's exit. National Treasury

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Categories: General
Companies: Orange Kenya
Countries: Kenya
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