BSNL targets ETK stake

29 Jul 2009

India’s Economic Times has reported that state-owned telco BSNL is interested in purchasing a 10%-15% stake in Kenyan mobile operator Essar Telecommunications Kenya (ETK), which provides services under the ‘Yu’ brand. The Indian Essar group partners Econet Wireless in the Kenyan venture, which recently changed its name (from Econet) to stave off speculation that the Indian company was exiting the cellco. A BSNL official reportedly confirmed that talks are on between the two companies, ‘Valuations are being discussed. We are doing the due diligence.’ The Essar Group declined to comment on the story.