The biggest telecom operators in Kenya, Safaricom and Airtel have made a joint bid for the smallest operator, Indian group Essar Coomunications’ Yu.
The Communications Commission of Kenya (CCK) said it had received applications from the firms to allow the transaction that will see Safaricom and Airtel spend a combined USD 100 million.
Safaricom will get Yu’s infrastructure such as base stations in a bid to improve the quality of its network, while Airtel is expected to acquire the subscriber base that Yu has built up since entering the Kenyan market in 2008.
Bob Collymore, the chief executive of Safaricom said they would make a formal announcement when the deal is finalized.
Source: Money Control
