Telkom deal going ahead despite unrest

9 Jan 2008

France Telecom’s acquisition of a 51% stake in Telkom Kenya will not be derailed by the current wave of political unrest which has followed last month’s disputed general elections. The KES26 billion (USD403 million) deal is still on course, according to Nairobi newspaper Business Daily, and plans are under way to produce a medium-term growth plan. ‘I can reassure customers that this deal is solid and France Telecom is committed to it. There is no threat at all from the recent occurrences on the political scene,’ Bernard Rubia, the chief communications officer at Telkom Kenya, told the paper. Analysts had raised fears that the sale of Telkom Kenya may be one of the casualties of loss of investor confidence in Kenya following last week’s outbreak of violence.

Kenya, Orange Group, Telkom Kenya