Francis Wangusi, the director general of the Communications Commission of Kenya (CCK), has told local newspaper Business Daily that Bharti Airtel must sell a 15% stake in Airtel Kenya to a local shareholder in order to remain compliant with foreign ownership rules. At least 20% of any telecoms network operator must be held by a domestically registered business or Kenyan national, and although Bharti owns 80% of the cellco, the other local shareholder Naushad Nerali was granted permission to sell a 15% stake to foreign shareholders. According to the newspaper, Bharti was given a three-year window to find another local shareholder, with the deadline due to expire in April 2013. The company’s operating concession will not be renewed if no sale is forthcoming.
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