Vodafone offers USD100 million for stake in Safaricom

23 Jun 2005

UK-based Vodafone is reported to have placed a cash offer of KES7.7 billion (USD100 million) for an additional 11% stake in Kenyan cellco Safaricom. Vodafone already controls the management of the company under a shareholders’ agreement signed in 1999. If the government accepts its offer, Vodafone’s stake will rise to 51%.

Kenya, Safaricom, Vodafone Group