By Ian Walker

 

Airtel Africa PLC said Wednesday that it and Telkom Kenya Ltd. no longer plan to combine their businesses in Kenya as the deal has taken so long to complete.

The companies agreed to merge their Kenyan businesses in February 2019 and the deal was conditional upon various conditions, including regulatory approvals.

"Kenya is a large and growing market and we remain committed to build a growing profitable business," Chief Executive Raghunath Mandava said.

Shares in Airtel Africa at 1240 GMT were down 0.80 pence, or 1.4%, at 56.10 pence.

 

Write to Ian Walker at ian.walker@wsj.com

 

(END) Dow Jones Newswires

August 05, 2020 09:05 ET (13:05 GMT)

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