UAE company to take over 60% of Telkom Kenya from Helios, Kenya’s Treasury says
- Date: 05-Oct-2023
- Source: Zawya
- Sector:Financial Markets
- Country:UAE
UAE company to take over 60% of Telkom Kenya from Helios, Kenya’s Treasury says
NAIROBI - United Arab Emirates-based Infrastructure Corporation of Africa LLC will take over 60% of shares in Telkom Kenya from London-based private equity firm Helios after a competitive process, Kenya's finance ministry said on Wednesday.
Financial details of the transaction were not disclosed.
The Kenyan cabinet on Tuesday rescinded a deal between a previous administration and Helios for the nationalisation of Telkom, citing "governance challenges" in that transaction.