Airtel Africa shelves plans for Kenyan merger

Published: 6 August 2020 - midnight

Airtel Africa has cancelled the planned merger of its Kenyan operations with Telkom Kenya, according to a company statement.

In February 2019 Bharti Airtel and Telkom Kenya were reported to be merging their operations, creating a new company that would have been called Airtel Telkom.

In a statement, the India-based Bharti Airtel said its Airtel Kenya subsidiary had signed an agreement with Telkom Kenya to merge their respective mobile, enterprise and carrier services businesses to create a new joint entity, Airtel Telkom. No financial details were disclosed and the deal was subject to regulatory approval.

However, in a filing to the London Stock Exchange Airtel Africa said that the deal was now dead.

“Despite Airtel Africa plc and Telkom Kenya’s respective endeavours to reach a successful closure, the transaction has gone through a very lengthy process, which has led the parties to reconsider their stance,” Airtel Africa said adding that both parties had decided to “no longer pursue completion [the] of the transaction”.
Airtel Africa has over 110 million subscribers spread across the African continent, 14 million of whom reside in Kenya.

Click here to add your comment

Please add your comment below
Your email address will not be published