Orange has signed a binding agreement with Helios Investment Partners for the sale of its entire 70% stake in Telkom Kenya, Kenya’s third largest telecommunication company
According to a statement from the company, the finalization of the transaction remains subject to approval from the relevant authorities.
”This signature reflects Orange’s constant focus on optimizing its portfolio of assets. The Africa and Middle-East region is a strategic priority for the Group” the statement read.
Telkom Kenya is the country’s incumbent fixed-line operator and is the third player in the mobile market. 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 regulator.
TechTrendsKE is keenly following this development so be sure to keep it here for the details as they happen.