France Telecom has bought the 11 per cent stake owned by a Dubai based private equity firm in Telkom Kenya in a deal that has tightened the French multinational’s grip on the local operator.
The Business Daily has learnt that France Telecom bought the stake held by Alcazar Capital and replaced its CEO, Charbel Jaoude, on the Telkom Kenya board. The amount paid to Alcazar was not disclosed.
The deal means that the French firm now fully owns the 60 per cent stake in Telkom Kenya initially held by an entity known as Orange East Africa, a special purpose vehicle created by France Telecom and Alcazar Capital after jointly acquiring a controlling stake in the Kenyan operator in 2007.
France Telecom buys out Dubai PE in Telkom Kenya - businessdailyafrica.com
No comments:
Post a Comment