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Bharti Airtel Unit To Merge With Telkom Kenya



Bharti Airtel said on Friday its unit Airtel Networks Kenya Ltd has agreed to merge with Telkom Kenya Ltd, the East African nation’s smallest telecom operator.

Three industry sources told Reuters last month that Bharti Airtel was in talks to buy Telkom Kenya to create a stronger challenger to market leader Safaricom.

Kenya has one of the most advanced telecoms sectors on the continent, but Safaricom’s 65 per cent market share has curbed competition and prompted the regulator to mull intervention.

Telkom, which is 60 per cent owned by London-based Helios Investment, accounted for 9 per cent of Kenyan mobile telecom subscribers last September, behind second-placed Airtel, which had a 22.3 per cent market share.

The Kenyan government owns the rest of Telkom’s shares.

The companies will combine their respective mobile, enterprise and carrier services businesses in Kenya to operate as Airtel-Telkom, both firms said.

The deal will not involve Telkom Kenya’s extensive real estate holdings and some government contracts for unspecified services, the company said.

No timeframe has been given for the deal, and both companies will operate as normal until the transaction is completed.

Before mobile telephones took off, Telkom enjoyed a monopoly for decades as the state telecommunications provider, giving it access to prime real estate that it still owns.

It was privatised in 2007 when French telecoms operator Orange bought a majority stake, which was subsequently sold to Helios in 2015.

Telkom’s chief executive Mugo Kibati will become the chairman of the new company. Telkom said it has the option of taking up to 49 per cent in the new entity if it hits undisclosed targets before the deal is sealed.

But Telkom is unlikely to hit those targets and will probably end up with their minimum stake of 30 per cent, an industry executive privy to the deal said.

“The final shareholding will be determined at the closing of the transaction,” Telkom said in a statement.

Prasanta Sarma, the chief executive of Airtel Kenya, will hold the same role in the combined entity, Telkom said.

“The person who is in the driving seat is Airtel because of their numbers. You always want to be in the executive after a transaction like this,” said the industry source.

Safaricom chief executive Bob Collymore told Reuters last month the merger of Airtel and Telkom would be welcome as it would boost competition in the sector, forcing the regulator to ditch its proposed measures against the market leader.


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Breaking News: Silicon Valley Bank’s Collapse Sends Shockwaves Through Financial World – Is India’s Banking System Next to Crumble?



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Are Indian Banks Ready to Face the Heat of Rising Interest Rates?

As Silicon Valley Bank (SVB) faces the heat of collapsing amidst rising domestic interest rates, Indian banks are left wondering if they are next in line. With the Indian economy still recovering from the COVID-19 pandemic, the prospect of rising interest rates could lead to a devastating blow to the country’s banking sector. Will Indian banks be able to weather the storm or will they collapse like SVB?

Indian banks have already faced a tumultuous few years with multiple frauds and defaults taking place, leaving many questioning their resilience. With the Reserve Bank of India (RBI) indicating that it may hike interest rates in the near future, the pressure on Indian banks is set to increase. The question remains – are Indian banks prepared to face the heat of rising interest rates or will they buckle under the pressure? Only time will tell.

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Delhi: Businesses can now remain open 24×7, over 300 applications cleared by L-G



Photo by Rehan Fazal on Unsplash

From restaurants to transport services and BPOs to online delivery services, all those who apply for exemptions will be allowed to operate 24×7 in Delhi starting next week, with Lieutenant Governor V K Saxena approving the proposal to exempt 314 such places to operate all day long, some of them pending since 2016, officials said.

“The L-G has directed that notification to this effect be issued within seven days. The decision of providing exemption under Sections 14, 15 & 16 of the Delhi Shops & Establishment Act, 1954, is expected to boost employment generation and promote a positive and favorable business environment that is a prerequisite for economic growth. The decision will also provide a fillip to the much desired ‘nightlife’ in the city,” said an official.

Source: IndianExpress

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Swiggy Instamart figures, Mumbaikars ordered 570 times more condoms in the last one year



Customers are also ordering medical-related things through online shopping platforms. In metros like Mumbai, Hyderabad, Delhi, and Bangalore, people are buying goods online in large numbers. People living in metro cities including Bengaluru, Delhi, and Mumbai ordered an average of 6 million eggs in the last year.

These days people are doing online shopping fiercely in the country. Through Grocery Service Platforms, the goods of need are easily reaching people’s homes. From vegetables to medicines, just a few clicks on the smartphone are reaching people’s doorsteps. According to a survey, Swiggy Instamart has provided service to more than 9 million users between June 2021 and June 2022. In metros like Mumbai, Hyderabad, Delhi, and Bangalore, people are buying goods online in large numbers.

Healthcare products orders

Customers are also ordering medical-related things through online shopping platforms. According to a survey, Mumbaikars have ordered 570 times more condoms in the last 12 months. At the same time, in 2021, Instamart received orders for about two million sanitary napkins, menstrual cups, and tampons. Apart from this, a lot of orders have also been received for grocery items.

56 lakh packets of noodles ordered

According to the survey, between April and June last year, there was a 42 percent increase in the demand for ice cream in these metro cities. It was also learned that most of the orders were placed after 10 pm. In metro cities, people have ordered 5.6 million packets of instant noodles. In Hyderabad, users ordered around 27,000 bottles of fresh juice during the summer months.

60 lakh eggs ordered

The demand for eggs has increased manifold in the last two years. People living in metro cities including Bengaluru, Delhi, and Mumbai ordered an average of 6 million eggs in the last year. According to the report, customers from Bangalore and Hyderabad ordered the maximum number of eggs for breakfast. At the same time, people of Mumbai, Jaipur, and Coimbatore have ordered the maximum number of eggs online at the time of dinner.

Demand for dairy products

There has been a huge jump in orders for both tea and coffee. According to the report, there has been an increase of 2,000 percent in its demand. At the same time, 3 crore orders of milk have come for milk. People from Bangalore and Mumbai have placed more orders in the morning. Regular milk, full cream milk and toned milk are the most ordered dairy products.

Ordering fruits and vegetables

Orders for 62,000 tonnes of fruits and vegetables have been received in the last year. With 12,000 orders, Bengaluru tops the list of organic product buyers. At the same time, Hyderabad and Bangalore together have ordered more than 290 tonnes of green chilies in 12 months. Over 2 lakh orders have been received for bathroom cleaners, scrub pads, drain cleaners, and more in the last year.

Source: Aajtak

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