The Orange Group has announced a binding agreement with Helios Investment Partners for the sale of its entire 70 percent stake in Telkom Kenya.
The finalisation of the transaction remains subject to approval from the relevant authorities. Officials said the signature reflected Orange’s constant focus on optimising its portfolio of assets.
“The Africa and Middle-East region is a strategic priority for the Group,” the company stated. Telkom Kenya is the country’s sole fixed-line operator and is the third player in the mobile market. It was established as a telecommunications operator under the Companies Act in 1999.
The company, which operates a high-quality mobile data network, had four million mobile customers at the end of June 2015 according to figures published by the East African country’s mobile network, regulator, the Kenya Communications Commission.
Orange is one of the world’s leading telecommunications operators with a presence in 28 countries. The Group has a total customer base of 263 million customers worldwide at 30 September 2015.
Author: Maria Macharia