MTNL in the running for Telkom Kenya stake?

13 Apr 2007

Indian financial newspaper Economic Times reports that MTNL is planning to bid for the 26% stake in Telkom Kenya for which the Kenyan government recently invited bids. The successful bidder will be announced on 25 September. The deal – which has been valued at up to USD2 billion, will not involve Telkom Kenya’s wireless subsidiary, Safaricom, which will instead be hived off from the parent company. Currently Telkom Kenya and Vodafone own 60% and 40% of Safaricom respectively.