South Africa-based Vodacom has completed the acquisition of a 35 percent stake in Kenyan mobile operator Safaricom.
The acquisition was completed after Vodacom received regulatory approvals from the Kenyan authorities to proceed with the deal.
The deal is valued at Sh266.6 billion and sees Vodacom acquire the stake from its British-based parent company Vodafone. Vodafone, however, retains a 5 percent stake in the Kenyan telco.
“Vodafone Group Plc announces today that its wholly-owned subsidiary Vodafone has completed the transfer of a 35 per cent indirect shareholding in Safaricom to Vodacom, its sub-Saharan African subsidiary,” Vodafone has said in a statement.