Government cancels Sh6bn Telkom buyout deal with Helios

The cabinet yesterday rescinded a government purchase of 60% of shares in
Telkom Kenya from London-based private equity firm Helios, the presidency
said, escalating a row that erupted after a presidential election in August
last year.

Today, the Treasury announced plans to onboard the Infrastructure
Corporation of Africa
LLC (ICA) of the United Arab Emirates, as the new majority
shareholder in Telkom, based on the offer they have put forward and subject
to regulatory approvals.

This deal is quite an ‘interesting’ development for Telkom, yet equally
unsurprising move by this our government. Or maybe it’s just me.