Safaricom sale halted by violence

4 Jan 2008

The initial public offering (IPO) of Kenyan cellco Safaricom has been pulled following the post-election violence in the country, reports The Times newspaper. The government plans to sell off a 25% stake in Safaricom, leaving it with a 35% interest. Vodafone Kenya, which has the UK’s Vodafone Group as a majority shareholder, has a 40% stake. The sale, which was first mooted by the government in early 2006, has already been subject to numerous delays and legal challenges.

Kenya, Safaricom, Vodafone Group