Bharti Airtel unit to merge with Telkom Kenya

Date posted: Monday 11 February 2019

Bharti Airtel’s unit Airtel Networks Kenya and Telkom Kenya have signed a pact to merge operations, which will help the Sunil Mittal-led telco emerge stronger in the east African market. It will also improve overall valuation in the runup to its initial public offer (IPO) in Africa, likely in May-June. After completion of the deal, the two companies will merge mobile, enterprise and carrier services businesses in Kenya (subject to approval) to operate as Airtel-Telkom. Telkom Kenya is 60% owned by UK private equity firm Helios Investment Partners and the rest by the Kenyan government.

(Economic Times)