Telkom settles Sh693m Safaricom inter-connection bill

Mergers, Acquisitions and Financial Results

Telkom Kenya has paid a long-outstanding Sh693 million claim it owed Safaricom for interconnection charges.

Steve Chege, Safaricom director for corporate affairs, however, says Telkom Kenya is yet to settle another Sh76.1 million debt that arose from a site and co-location contract Telkom Kenya had with Essar — which Safaricom took over after it bought Essar telecom’s frequency management spectrum in a joint acquisition that saw Airtel buy Essar’s subscribers and GSM licence last year.

The intended sale of the 70 per cent stake that France Telecoms owned in Telkom Kenya prompted the leading mobile operator to seek legal redress over the matter. Read the full article on Business Daily here: