Orange sells 70% stake in Telkom Kenya to Helios

10 November 2015 |

Orange has signed an agreement to sell its 70% stake in Telkom Kenya to Helios Investment Partner for an undisclosed amount.

The operator said the move reflects its constant focus on optimising its portfolio of assets and added: “Africa and the Middle East region is a strategic priority for the group.”

Helios Investment Partner was one of the numerous bidders seeking to acquire Orange’s stake in Telekom Kenya, including Vietnam’s Viettel Group. Its investments in the African mobile market include Helios Towers Africa, which owns towers In Ghana, Tanzania, Congo-Brazzaville and the Democratic Republic of Congo. 

In addition to being the fixed-line incumbent, Telkom Kenya is the third largest mobile operator in the country, after Safaricom and Airtel. The operator had four million mobile customers at the end of June 2015, according to Orange.

In May 2015, Orange reported that Telkom Kenya saw a 5% increase in revenue in 2014, up to €85 million, by expanding mobile data usage and services to large corporations and small medium enterprises. It added: “In light of the difficulties faced in terms of its financial results, the company continued its transformation plan and the streamlining of its cost base to improve its margins.”