Safaricom pulls out of 4G joint venture

Thursday 7 November 2013 | 11:18 CET | News
Kenya's biggest mobile operator Safaricom has pulled out of the government-backed plan to create one national 4G network, the Business Daily reported. Safaricom reckons that the state is taking too long to secure shareholder agreements. The country's 4G network is modeled on a public-private partnership, where the government and the operators will own stakes in the network equivalent to the capital they inject in the special purpose entity. The Treasury in 2012 approved the ownership structure and estimated the operators needed to invest KES 10 billion to start construction. Now, Safaricom is

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Categories: Mobile & Wireless
Companies: Airtel / MTN / Orange / Safaricom
Countries: Kenya
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