labels: tata teleservices, telecom, reliance communications, m&a, bharti tele-ventures ltd / bharti airtel
Telkom Kenya attracts Airtel, Reliance Communication, Tata news
08 August 2007

Mumbai: According to media reports, Bharti Airtel, Reliance Communications and Tata Holding are reported to be keen to acquire the 51-per cent stake in government owned Kenyan landline telecom monopoly, Telkom Kenya.

The Kenyan government is keen on the divestment to facilitate the privatisation of the loss-making telecom company, which has a monopoly on landline services in the country. If an Indian company wins the bid, it will enable the company to enter the country''s telecom market, according to news reports in international press.

Apart from Indian companies, global majors such as British Telecom and VTel Holding of Dubai have also evinced an interest in acquiring the majority stake in Telkom Kenya.

Of the three Indian bidders, the Tata Group already has a growing presence in the automotive and telecom sectors through its Tata Africa.

Earlier, the Kenyan government had wanted to divest 26 per cent stake in Telkom Kenya, which was later increased to 51 per cent.

The company has invited bids to be evaluated between 30 October and 6 November and the technically qualified bidders will be named on 6 November whose financial proposal will be evaluated and the final bidder will be announced on 8 November.

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Telkom Kenya attracts Airtel, Reliance Communication, Tata