There are strong rumours in the business cycles in Nairobi that Deputy President William Ruto is planning to acquire the struggling former telecommunication giant Telkom Kenya.
According to multiple sources with deep connections inside the Jubilee administration, Ruto is keen in using a UK based investment firm, Helios Investment, to acquire the telco, break it off into two units and then sell it at a profit. The move is a result of France Telecom’s Orange brand determination to sell the struggling Kenyan unit and exit the market completely.
According to the information available online, Helios Investment was established in 2004 by Tope Lawani and Babatunde Soyoye. It has grown to be one of the largest investment firms focusing on Africa and is among the few independent pan-African private equity investment firms which managed by Africans.
Just up to May 2015, Orange Kenya was in talks with Airtel Kenya for possible acquisition but the Bharti Airtel owned unit withdrew from the deal citing the liabilities in the Orange Kenya books. Maybe the impending buyout of France Telecom from Telkom Kenya necessitated the recent news released by Helios that they sold their 12% stake in Equity Bank to a Norwegian consortium.
We are putting our ears out for this news and we will update. Email tips@localhost with any leads to this and others stories.
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5 Comments
If he has the money, why not?
You can as well buy if you have the money. What’s wrong with Ruto buying? We’re all out to make a profit and that’s why we buy an acre of land then split and sell 1/8 plots to make profit. Stop jealous and live your life.
If the acquisition is clean and above board, with his own money and not looted government funds, then yes, like any other Kenyan he can. Kenyan laws are silent on government officials investing while in office though it’s a recipe for corruption, the writers of the book didn’t thinknit so.
Where would a “hustler” get Kshs 40 billion?
please ALAI, let him buy it. ALAI, as you keep on complaining, people are investing… As you remain lalahoi, people are living well.