Airtel Networks Kenya Limited, a subsidiary of Bharti Airtel’s Africa unit, has called off the merger with Telkom Kenya Limited citing challenges to secure regulatory approvals for the deal.
In its regulatory filing, Airtel Africa said that the transaction has gone through a very lengthy process, which has led the parties to reconsider their stance. Accordingly, Airtel Africa and Telkom have decided to no longer pursue the completion of the transaction.
In February 2019, Airtel Networks Kenya and Telkom Kenya had inked a pact to merge their operations. However, the completion of the merger transaction was subject to satisfaction of various conditions precedent, including regulatory approvals.