France Telecom has put Telkom Kenya on sale, becoming the second mobile phone operator to exit the market this year after yuMobile.
The French conglomerate that owns majority of shares in Telkom, has formally informed the government that they are currently in the middle of negotiations with potential buyers to take control of what was once one of the largest employers in Kenya.
This is seven years after the firm, which operates under the Orange brand, was sold to the French.Depending on how the negotiations between France Telecom and the new buyer progress- the French investors could be out of the company by June 2014.
France Telecom owns 70 per cent of shares in the company. The government is the other shareholder with a 30 per cent stake.
The French will be exiting, leaving behind a company teetering towards insolvency.
In 2013, annual revenues stood at Sh9.4 billion, compared to revenues of Sh12 billion per month for Safaricom, the largest mobile company.
The average revenue per user was Sh200, compared to Safaricom’s Sh546.
Subscribers were 2.2 million, compared to 5.5 million for Airtel, 2.2 million for yuMobile and 21 million for Safaricom.
Telkom’s earnings before interest, tax, depreciation and amortisation- was a negative Sh2.6 billion.
Who will want to buy Telkom Kenya?
sourced; Daily Nation
The French conglomerate that owns majority of shares in Telkom, has formally informed the government that they are currently in the middle of negotiations with potential buyers to take control of what was once one of the largest employers in Kenya.
This is seven years after the firm, which operates under the Orange brand, was sold to the French.Depending on how the negotiations between France Telecom and the new buyer progress- the French investors could be out of the company by June 2014.
France Telecom owns 70 per cent of shares in the company. The government is the other shareholder with a 30 per cent stake.
The French will be exiting, leaving behind a company teetering towards insolvency.
In 2013, annual revenues stood at Sh9.4 billion, compared to revenues of Sh12 billion per month for Safaricom, the largest mobile company.
The average revenue per user was Sh200, compared to Safaricom’s Sh546.
Subscribers were 2.2 million, compared to 5.5 million for Airtel, 2.2 million for yuMobile and 21 million for Safaricom.
Telkom’s earnings before interest, tax, depreciation and amortisation- was a negative Sh2.6 billion.
Who will want to buy Telkom Kenya?
sourced; Daily Nation
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