Helios Investment Partners is considering purchasing a controlling stake in Telkom Kenya.

Telkom Kenya is Kenya’s incumbent fixed and mobile operator and the controlling stake is currently owned by from Orange Group.

In November last year, an attempt by the French company to sell its 70% stake in Telkom Kenya to Vietnamese telecoms firm Viettel fell through.

Viettel reportedly pulled out of the deal after the Kenyan government – which owns the remaining 30% of Telkom – rejected a number of its conditions for the deal.

Treasury secretary Henry Rotich said Orange Group previously had discussions with a number of buyers, including Viettel, who came up with a lot of demands, some touching on the government that led to the collapse of the buyout.

He said they asked Orange to only bring serious investors and Orange has told them that Helios is a serious buyer.

The investment firm is understood to be considering the acquisition of a 51% stake in Telkom Kenya, leaving the government with a 29% holding, and with Orange retaining a 20% stake.