Kenya to Appeal Court Ruling Against Sale of Safaricom Stake to Vodacom

Vodacom to appeal Kenya court ruling against Safaricom stake purchase

Kenyan High Court rules to unwind Vodacom’s Safaricom takeover

Just months after celebrating taking control of Safaricom as a ‘defining moment’, Vodafone’s African arm now faces prospect of enforced €1.4bn deal unwind. From Midrand to London, execs must now confront complex balance-sheet unravelling and regulatory exposure.

Kenya to appeal court ruling against sale of Safaricom stake to Vodacom

Kenya’s government will appeal a court ruling that ordered ​the cancellation of a deal in which ‌it sold an extra 15% stake in telecoms firm Safaricom to South Africa’s Vodacom, Finance Minister John Mbadi ​said on Wednesday. The $1.6 billion deal, announced last ​December and completed in June, lifted Vodacom’s shareholding ⁠in Safaricom to 55%, […]

Telecom news: Safaricom, Vodacom, China Mobile, ZTE, Huawei, Orange, Deutsche Telekom, Telefonica

Today’s telecom news includes announcements on Safaricom, Vodacom, China Mobile, ZTE, Huawei, Orange, Deutsche Telekom, Telefonica, among others. Vodacom Challenges Kenya Court Ruling on Safaricom Stake Kenya’s government will appeal a High Court ruling that ordered the cancellation of its sale of an additional 15 percent stake in Safaricom to South Africa’s Vodacom. Finance Minister […]

South Africa’s Vodacom Group fights to keep majority stake in Safaricom

Vodacom acquired the government’s shares through a block trade on the NSE on June 30, the same day it also bought Vodafone’s shares through its investment vehicle Vodafone Kenya Limited (VKL).

State appeals court ruling against sale of Safaricom stake to Vodacom

The government has filed a notice of appeal challenging the High Court ruling that nullified the proposed partial sale of its 15 per cent shareholding in Safaricom PLC to Vodacom, insisting that the divestiture was lawful. The government had sold its 15 per cent stake for Sh204.3 billion, translating to Sh34 per share. In the deal, the government also received about Sh40.7 billion through the sale of its future dividend rights on the remaining 2…