The Essar Group is likely to dilute its stake in Econet Wireless Kenya, its telecom venture in the country.

The Essar Group is likely to dilute its stake in Econet Wireless Kenya, its telecom venture in the country. Reportedly, Essar is looking at inducting a private equity firm as a strategic partner.

The proceeds of the stake sale will be used by the company to expand its networks in Kenya. Essar Communications Holdings Limited, the telecom subsidiary of Essar Global, owns 49 per cent of Econet Wireless International, which, in turn, holds 70 per cent of Econet Wireless Kenya.