Essar Telecom Gets Conditional Approval to Sell Kenyan Mobile Network
Published on: 29th Mar 2014
Note -- this news article is more than a year old.
Kenya's telecoms regulator has conditionally approved a deal by Safaricom and Bharti Airtel to buy the assets of Essar Telecom's closing down mobile network, Yu Mobile
Under the terms of the deal, Safaricom is buying the network infrastructure, while Bharti Airtel is buying the customer base.
The telecoms regulator though, the Communications Commission of Kenya (CCK) said that it had approved the deal, subject to the buyers clearing all the outstanding license fees owed by Yu Mobile.
Airtel will also have to maintain the same level of service for the Yu Mobile customers as they currently enjoy and ensure that they can keep their existing numbers.
The telecoms regulator has given the buyers six months to complete the transaction.
However, the deal is still waiting for approval from the competition authority, which was reported this week to be behaving in a more than sluggish manner when dealing with the transaction.