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Company News

Telkom Kenya says no longer pursuing joint venture with Airtel Kenya -statement

NAIROBI, Aug 5 (Reuters) - Telkom Kenya said on Wednesday it was no longer pursuing a proposed joint venture transaction with the Kenyan unit of India’s Bharti Airtel.

Bharti Airtel had said in February 2019 its Airtel Networks Kenya unit had agreed to buy Telkom Kenya, the East African nation’s smallest operator in which the state still has a 40% shareholding, after a majority stake was sold in 2007.

“After carefully reviewing the available options, Telkom has opted to adopt an alternative strategic direction and will no longer be pursuing the proposed joint venture transaction. This decision has been mutually agreed with Airtel Networks Kenya Limited,” Telkom Kenya said in a statement. (Reporting by Duncan Miriri; Writing by George Obulutsa; Editing by Jon Boyle)

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