Orange completes sale of Telkom Kenya to Helios; govt stake raised by 10%

13 Jun 2016

France’s Orange Group has completed the sale of Telkom Kenya to UK-based, Africa-focused private equity firm Helios Investment Partners, after the deal received approval from the relevant authorities. The agreement was announced by Orange in November 2015, twelve months after a deal to sell its entire 70% stake to Vietnamese telecoms firm Viettel Group fell through. The French company reiterated that the Africa and Middle East region remains a strategic priority for the group, adding that the divestment reflects Orange’s ‘constant focus on optimising its portfolio of assets’.

Capital FM cites Kenya’s National Treasury Cabinet Secretary Henry Rotich as saying that under the terms of the deal, Helios acquired a 60% stake in Telkom Kenya through its wholly-owned subsidiary Jamhuri Holdings Limited, while at the same time the Kenyan government increased its holding in the firm from 30% to 40%.

Kenya, Helios Investment Partners, Orange Group, Telkom Kenya