Business
EACC Approves Airtel-Telkom Merger
According to records, the State has only 40 percent shares in Telkom while Helios clutches the remaining 60 percent.This implies that Telkom Kenya isn’t subjected to State Corporations Act, and therefore, can’t be probed by EACC as the Parliament had requested.
The merger hopes are still danglis as on Friday last week, CA said that it was yet to receive the letter from EACC.
“CA is yet to receive EACC clearance to progress the merger,” said the Communication controller.
EACC clearance was not the only hurdle as CA had instracted the two telcos to clear any debts before their merger can be certified.
Safaricom had written to CA blocking the merger plans before Telkom and Airtel their debts. According to Safaricom acting CEO Micheal Joseph, Telkom Kenya owes Saf Sh906.6 million and Airtel Kenya has Sh390.7 million to clear. The debts have accumulated from interconnection, co-location and fibre services charges they had sourced from Safaricom.
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