The government of Kenya has not yet approved a new shareholder agreement with African private equity firm Helios Investment Partners, which last year agreed to acquire Orange Group’s majority stake in Telkom Kenya. Citizen Digital quotes Treasury Cabinet Secretary Henry Rotich as saying that legal advisors have been brought in to analyse the deal before it is approved by the government, which owns the remainder of Telkom Kenya. ‘We are [in] the final stages now. The documentation is being reviewed and, in due course, once we have all the final approvals, which include the Cabinet, the transaction will be executed,’ he added.
As previously reported by TeleGeography’s CommsUpdate, in November 2015 France’s Orange Group announced the signing of an agreement with Helios for the sale of its entire 70% stake in Telkom. At the start of this year, the Treasury of Kenya and Helios entered into discussions regarding a 10% stake in Telkom, with the former aiming to increase its stake in the Kenyan operator from 30% to 40%, thereby reducing Helios’ potential stake to 60%.