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    Hellkom > News > Local > Transnet, Eskom and Econet may buy 49 percent of Telkom Kenya

Transnet, Eskom and Econet may buy 49 percent of Telkom Kenya

22 January 2001
 
Transnet, the transport parastatal, and Eskom Enterprises in a consortium with Zimbabwe's Econet Wireless could soon seal an agreement with the Kenyan government to take up a 49 percent stake of Telkom Kenya, Transnet sources said yesterday.

The Mount Kenya consortium, now exclusively negotiating the transaction with the Kenyan government has until the end of this month to conclude the deal.

Sango Ntsaluba, Transnet's executive for restructuring, declined to confirm that the deal was close to conclusion.

He said: "The reality is that we rate Kenya as among the primary African countries that present us with great business opportunities alongside Nigeria and Egypt."

But Mafika Mkwanazi, Transnet's managing director, said the parastatal would make at least two major acquisitions this year.

The consortium offered $240 million for the stake, which did not impress the Kenyans who attach more value to the national asset.

As a result, Kenya's landmark privatisation effort has been delayed by mo ...

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