Business & Finance
Kenyan Appeals Court Unblocks Safaricom Stake Sale to Vodacom
Key Points
Telecom Kenyan Appeals Court Unblocks Safaricom Stake Sale to Vodacom Kenya’s appellate court overturned a ruling that halted the National Treasury’s plan to sell a 15% stake in Safaricom Plc, East Africa’s biggest mobile-network operator, to Vodacom Group Ltd. The court of appeal decision follows an application by the Treasury to unblock the $2 billion deal to fund its budget deficit and finance infrastructure projects. Kenya’s high court ordered a temporary halt to the deal in March.
Telecom
Kenyan Appeals Court Unblocks Safaricom Stake Sale to Vodacom
Kenya’s appellate court overturned a ruling that halted the National Treasury’s plan to sell a 15% stake in Safaricom Plc, East Africa’s biggest mobile-network operator, to Vodacom Group Ltd.
The court of appeal decision follows an application by the Treasury to unblock the $2 billion deal to fund its budget deficit and finance infrastructure projects. Kenya’s high court ordered a temporary halt to the deal in March.
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