Kenya - French telecoms giant Orange Group said on Tuesday that it had sold its 70 percent stake in Telkom Kenya to Helios Investment Partners, the Africa-focused private equity firm.
The French group’s majority stake in Kenya’s sole fixed-line operator and third player in the mobile market had been up for sale for some time. Orange had said previously that the sale was part of its strategy of being a top-two player in the markets where it operates.
A statement from the company, which has a presence in 28 countries and a total customer base of 263 million, added: “The Africa and Middle-East region is a strategic priority for the group.”
The transaction, for an as yet undisclosed sum, is subject to regulatory approval.
ANA-CAJ