4 Oct
2023
4 Oct
'23
7:40 p.m.
The cabinet yesterday rescinded a government purchase of 60% of shares in Telkom Kenya from London-based private equity firm Helios, the presidency said, escalating a row that erupted after a presidential election in August last year. https://nation.africa/kenya/business/ruto-government-cancels-sh6bn-telkom-bu... Today, the Treasury announced plans to onboard the Infrastructure Corporation of Africa LLC (ICA) of the United Arab Emirates, as the new majority shareholder in Telkom, based on the offer they have put forward and subject to regulatory approvals. This deal is quite an 'interesting' development for Telkom, yet equally unsurprising move by this our government. Or maybe it's just me. Regards, Victor