In brief

15 June 2018

Mergers, Acquisitions and Financial Results

Airtel Kenya has abandoned plans to merge with Telkom Kenya to take on the market leading operator Safaricom, Reuters reported citing unnamed industry and government sources. The source said Airtel developed cold feet. Airtel, owned by India's Bharti Airtel, did not respond to a request for comment. Sources said in April that Airtel and Telkom Kenya were planning to merge to create a stronger challenger to Safaricom, which has 72 percent of subscribers, or around 30 million subscriptions. Joe Mucheru, the minister for information and communication, said he was aware of the walkout by Airtel.

Source: Reuters