Orange confirms sale of Telkom Kenya stake to Helios Investment Partners

Orange confirmed an agreement to sell its 70 per cent stake in Telkom Kenya to Helios Investment Partners for an undisclosed sum.

In a statement, Orange said the move “reflects its constant focus on optimising its portfolio of assets”, adding “Africa and the Middle East region is a strategic priority for the group”.

Helios emerged as one of a number of bidders attempting to acquire some or all of Orange’s stake in Kenya’s fixed incumbent and third largest mobile operator in September, which has been up for sale for some time. Previous bids for the entity have failed, including one from Vietnam’s Viettel Group at the end of last year.

Orange, which operates in 19 countries across Africa and the Middle East, has previously stated its Kenyan business was under review as part of its strategy to be a top two player in the markets where it operates.

According to figures from Orange, Telkom Kenya counted four million mobile customers at the end of June this year, with the company lagging behind rival Airtel’s seven million connections and market leader Safaricom, which has more than 24 million connections.

Helios has made numerous investments across Africa, and operates a wide ranging tower business. The company owns towers in Ghana, Tanzania, Democratic Republic of Congo, and Congo-Brazzaville.

Orange said finalisation of the deal remains subject to approval from the relevant authorities.