The Treasury now controls Telkom Kenya after acquiring a 60 per cent stake in Telkom Kenya from British investment firm Helios Investment Partners for Sh6.09 billion.
The Kenyan government, which previously owned a 40 per cent stake in Telkom, now owns the company wholly.
The exit comes six years after Jamhuri acquired majority ownership in the integrated telecommunications solutions provider from France Telecom in June 2016 through its local subsidiary Orange.
Jamhuri Holdings Limited notified the government of its intention to exit Telkom in August 2021.
The collapse of the proposed merger between Telkom and Airtel Kenya following disapproval of the transaction by the government may have accelerated the exit.
In 2015, Helios exited Equity Bank Group with the sale of its final stake to the National Social Security Fund (NSSF) Uganda, following exits to the Norwegian investment fund, Norfund and UK investment management firm Genesis Investment Management LLP.
More recently, Helios exited its investment in Vivo Energy to Vitol Group following an earlier partial exit through a public listing on the London Stock Exchange.
Helios’ current investments are spread across several firms and countries in East Africa in Financial Services, technology, infrastructure, Healthcare, Energy, and customer sectors.
First published by https://kenyanwallstreet.com/
