Orange Group has announced the signing of an agreement with African private equity firm Helios Investment Partners for the sale of its entire 70% stake in Telkom Kenya, the country’s incumbent fixed line and mobile operator. ‘This signature reflects Orange’s constant focus on optimising its portfolio of assets,’ the French company noted in a press release, adding: ‘The Africa and Middle East region is a strategic priority for the group.’ Operating under the Orange brand, Telkom is Kenya’s third largest mobile network operator, with a customer base of 4.05 million at mid-2015 (giving it a market share of 11.5%). The completion of the transaction remains subject to approval from the relevant authorities.
The announcement comes a year after an attempt to sell Orange’s majority shareholding in Telkom Kenya to Viettel Group fell through. The Vietnamese telecoms firm reportedly pulled out of the deal after the Kenyan government – which owns the remaining 30% of Telkom – rejected a number of its conditions for the deal.
Kenya,Orange Group (formerly France Telecom), Telkom Kenya (Orange Kenya), Helios Investment Partners, Corporate/Financial, Mergers/Acquisitions, Wireless, Broadband, Wireline
