India’s BSNL is in talks to take a 10-15% stake in Essar Group’s Kenyan subsidiary as part of its plans to expand into the African market.
“Valuations are being discussed. We are doing the due diligence,” the official told the Economic Times, requesting anonymity. The Essar Group declined to comment
For the record, in January of last year, Econet Wireless International (EWI) sold a 49% stake in the company to India’s Essar Communications Holdings (ECHL). The companies said that the move would significantly benefit Econet Wireless Kenya (EWK), which is 70% owned by EWI.
According to the Mobile World database subscriber database, Safaricom is the market leader in Kenya with a market share of 82.3% with Celtel coming in at 17.6%. Telkom Kenya (Orange) has just started a mobile service with hopes to reach up to 74% of the people who doesn’t use mobile phone in the country…