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General

Orange to buy 51% of Telkom Kenya

Friday 16 November 2007 | 10:41 CET | News
France Telecom has been selected as the preferred bidder to acquire 51 percent of Telkom Kenya for USD 390 million. The transaction is planned to close before the end of the year. Telkom Kenya serves over 280,000 fixed line customers and will benefit from a new mobile licence. France Telecom has teamed up with Alcazar Capital, who subscribed to a 15 percent stake in the consortium. Logistics services provider Agility, one of Alcazar's shareholders, will provide expert knowledge of the Kenyan market. With France Telecom, Telkom Kenya will develop convergent mobile, fixed and internet services.

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Categories: General
Companies: France Telecom / Orange / Telkom Kenya
Countries: Kenya
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