The Essar group has signed an
agreement for the sale of its telecom business in Kenya.
The signing came after
CA (Communication Authority of Kenya) approved Essar’s YuMobile to be sold for
$120million to Bharti Airtel Kenya and Kenya’s Safaricom Ltd.
According to Firdhose Coovadia,
board member of Essar Capital, the transaction is an additional step towards
attaining Essar Capital’s strategy of depriving Essar Global Fund investments
within the global telecommunications sector.
Coovadia further noted: “We also
think that the transaction with Airtel and Safaricom will offer much needed
consolidation within the Kenyan mobile telecommunications market and offer
clients with fewer mobile operators, equipped better to enhance service
delivery and offer customers great products.”
The
Essar group has signed an agreement for the sale of its telecom
business in Kenya. The signing came after CA (Communication Authority of
Kenya) approved Essar’s YuMobile to be sold for $120million to Bharti
Airtel Kenya and Kenya’s Safaricom Ltd.
According to Firdhose Coovadia, board member of Essar Capital, the transaction is an additional step towards attaining Essar Capital’s strategy of depriving Essar Global Fund investments within the global telecommunications sector.
Coovadia further noted: “We also think that the transaction with Airtel and Safaricom will offer much needed consolidation within the Kenyan mobile telecommunications market and offer clients with fewer mobile operators, equipped better to enhance service delivery and offer customers great products.”
- See more at: http://techmoran.com/essar-sold-u-s-120-million-kenyas-safaricom-ltd-bharti-airtel-kenya/#sthash.rYp8xiNm.dpuf
According to Firdhose Coovadia, board member of Essar Capital, the transaction is an additional step towards attaining Essar Capital’s strategy of depriving Essar Global Fund investments within the global telecommunications sector.
Coovadia further noted: “We also think that the transaction with Airtel and Safaricom will offer much needed consolidation within the Kenyan mobile telecommunications market and offer clients with fewer mobile operators, equipped better to enhance service delivery and offer customers great products.”
- See more at: http://techmoran.com/essar-sold-u-s-120-million-kenyas-safaricom-ltd-bharti-airtel-kenya/#sthash.rYp8xiNm.dpuf
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