Airtel Africa shelves plans for Kenyan merger

The proposed deal had been more than 18 months in the making
Airtel Africa, Kenya, Telkom, Africa, Mergers and acquisitions

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Airtel Africa has cancelled the planned merger of its Kenyan operations with Telkom Kenya, according to a company statement.

In February 2019 Bharti Airtel and Telkom Kenya were reported to be merging their operations, creating a new company that would have been called Airtel Telkom.

In a statement, the India-based Bharti Airtel said its Airtel Kenya subsidiary had signed an agreement with Telkom Kenya to merge their respective mobile, enterprise and carrier services businesses to create a new joint entity, Airtel Telkom. No financial details were disclosed and the deal was subject to regulatory approval.

However, in a filing to the London Stock Exchange Airtel Africa said that the deal was now dead.

“Despite Airtel Africa plc and Telkom Kenya’s respective endeavours to reach a successful closure, the transaction has gone through a very lengthy process, which has led the parties to reconsider their stance,” Airtel Africa said adding that both parties had decided to “no longer pursue completion [the] of the transaction”.
Airtel Africa has over 110 million subscribers spread across the African continent, 14 million of whom reside in Kenya.

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