COMESA clears Vodacom’s Safaricom takeover in Kenya
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COMESA clears Vodacom’s Safaricom takeover
Safaricom
When a regional watchdog gives a big telecom deal the green light, it’s usually a sign that something major is on the move, and that’s exactly what just happened with Vodacom Group and Safaricom. The COMESA Competition and Consumer Commission has cleared Vodacom’s plan to increase its holdings in Kenya’s biggest telecom from 35% to 55% in a deal worth about Sh272 billion. That’s a major regulatory hurdle crossed in a transaction that’s been watched closely across East and Southern Africa.
Under the deal, Vodacom will buy extra share...