France Telecom buys Telkom Kenya.

Position:Telecoms - Brief article
 
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Kenya's mobile phone market looks set for a shake-up with the virtual duopoly enjoyed by Safaricom (part-owned by Vodafone) and Celtel (owned by Zain of Kuwait) being challenged by France Telecom, which has taken a $390m, 51% stake in Kenya's heavily indebted state-owned telecom company, Telkom Kenya. Safaricom shares owned by Telkom Kenya have been transferred to Kenya's Treasury to offset debts to the taxation authorities and repay foreign exchange loans.

France Telecom beat other bidders--Reliance...

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