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Kenya: Leading telco Safaricom sees challenges lifted for yumobile buy

By  |  August 6, 2014

East Africa’s largest wireless operator Safaricom has reportedly received good news regarding its efforts to acquire Kenya operator yumobile.

Kenya’s telco watchdog has reportedly withdrawn its objections to the $120 million acquisition. Now, reports say Safaricom is expected to file its merger notice to competition regulators soon.

Safaricom added that it hopes to close the takeover in a matter of months.

Safaricom and Airtel Kenya announced last March plans to acquire yumobile, the region’s third-largest wireless firm. The assets are currently owned by Essar Telecom Kenya.

Full content: Businessweek

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