Safaricom Seeks Court Order Blocking Telkom Kenya Sale
Published on: 2nd Dec 2015
Note -- this news article is more than a year old.
Kenya's Safaricom is asking a court to block Orange from selling its 70% stake in Telkom Kenya to Helios Investment Partners.
The sale was announced last month, but Safaricom says that it is concerned that it will be unable to recover Sh639.8 million (USD6.1 million) it is owed by Telkom Kenya if the sale goes ahead.
The outstanding debt is due to allegedly unpaid interconnection fees, and some liabilities it inherited from a tower sharing deal with the now defunct Essar Telkom Kenya.
Safaricom wants the court to temporarily block the sale and have Telkom pay the debt, or provide a bank guarantee that the debt can be paid.