Airtel Africa, Telkom Pull Kenya Business Merger Due to Delays
August 05 2020 - 09:20AM
Dow Jones News
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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