MD Somen linked with AccessKenya buyback

9 May 2013

AccessKenya’s managing director Jonathan Somen may regain part ownership of the company if its sale to South Africa-based Dimension Data goes through, The Star reports. The newspaper indicates that Somen has entered into a pre-sale agreement with Dimension to re-purchase up to 20% of AccessKenya shares following the successful conclusion of the buyout. A second transaction will reportedly enable Access to fulfil the local legal requirement of 20% ownership. As reported by TeleGeography’s CommsUpdate earlier this week, Dimension Data has made an open market offer to buy 100% of AccessKenya for KES3.0 billion (USD35.3 million), at the rate of KES14 per share.

Kenya, AccessKenya, Dimension Data