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Kenyan entrepreneur Merali cuts KDN stake

Thursday 31 January 2013 | 11:03 CET | News
Kenyan businessman Naushad Merali has sold a 19.2 percent stake in Kenya Data Network (KDN), Business Daily reported. Regulatory filings with the Johannesburg Securities Exchange (JSE) indicate that Altech has sold its 60.8 percent stake in KDN to Liquid Telecom, a UK firm that offers data, voice and wholesale internet servies in developing countries. The filings indicate that Liquid will control 80 percent of KDN, suggesting that Merali, who holds 39.2 percent, has cut his ownership in the company that he helped found to 20 percent, for an undisclosed fee.

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Categories: Fixed
Companies: Altech / KDN / Liquid Telecom
Countries: Kenya
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