Safaricom-Airtel bid for Essar?s business in Kenya to be finalised by December 2014 -

The joint bid by Safaricom and Bharti Airtel to take over the mobile assets and business of Essar Telecom Kenya Limited will be finalised by the Communications Authority (CA) of Kenya by December 2014. The CA has already given a preliminary nod to the deal but the final approval will be received by the end of 2014. As per the legal requirements in Kenya, the authorities can finalise a deal only after waiting for a month for other parties to raise any objections regarding the deal.

Essar Telecom operates under the yuMobile brand in Kenya. Earlier in August 2014, the company had signed an agreement with Safaricom and Airtel for sale of its telecom business in Kenya for approximately $120 million.

Safaricom-Airtel bid for Essar?s business in Kenya to be finalised by December 2014

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