According to three industry sources, India’s Bharti Airtel is in talks to buy Telkom Kenya, the East African nation’s smallest telecoms operator. The move will create a stronger challenger to market leader Safaricom.
The sources reveal that London-based Helios Investment, which owns a 60 percent stake in Telkom, is looking to partly cash out of the investment which it entered in 2015. The move comes after the two companies held merger talks last year, only for them to abandon the plan.
One of the sources said “Airtel is in the driving seat. They are leading the talks. Helios is partially cashing out”. The sources noted that the deal will be completed by the end of the first quarter of 2019.
The Communications Authority of Kenya said it was yet to be formally notified by the two operators of the latest attempt at a deal.