Telkom Kenya scraps Bharti merger
August 7, 2020
By Chris Forrester
Telkom Kenya is no longer pursuing a proposed joint venture transaction with the Kenyan unit of India’s telco giant Bharti Airtel.
Bharti Airtel had said in February last year that its Airtel Networks Kenya unit had agreed to buy Telkom Kenya, the East African nation’s smallest operator in which the government still has a 40 per cent stake, after a majority shareholding 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.