CC image courtesy of brf on Flickr
France Telecom’s possible sale of its 70 per cent stake in Orange Telkom Kenya has attracted two foreign companies, Nigeria’s Megatech Engineering Limited and vtel from Vietnam.
Business Daily reports executives from Vietnam have been holding talks with France Telecom and are conducting due diligence that could see the deal concluded by the end of July.
“I can confirm that France Telecom is in talks with three firms, Megatech being one of them, and is currently doing due diligence,” said a source who did not want to be named.
“France Telecom is actually looking for someone to buy its entire 70 per cent stake in Telkom Kenya and this could be concluded by end of July,” said the source.
If the deal goes through then Kenya will be the second market to bid goodbye to the French firm after it exited the Ugandan market, selling 95 per cent of its stake to Africell.
