Alcazar disposes of Telkom Kenya shares to Orange Group at a loss

3 Dec 2013

Dubai-based private equity firm Alcazar Capital has reportedly sold its 21.5% stake in Orange East Africa (OrEA) to French partner Orange Group for well below the USD57 million asking price. Gerald Ries, senior vice president for International Operations at Orange Group, told members of the French parliament that Alcazar had opted to exit the consortium due to Telkom’s poor performance and was happy to cut its losses. Ries admitted: ‘We paid them very little … I can’t disclose the figure but it was very small’.

TeleGeography notes that the deal follows Orange Group’s move to raise its stake in the carrier from 51% to 70% in June 2013, after fellow shareholder the Kenyan government was unable to match the French group’s cash injection. As a result of both transactions Orange now owns 70% of Telkom Kenya outright.

Kenya, Orange Group (formerly France Telecom), Telkom Kenya (Orange Kenya),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share