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Bharti Airtel, Safaricom confirm talks to acquire Yu assets
2014-03-04 23:57:00| Telecompaper Headlines
(Telecompaper) Indian communications carrier Bharti Airtel confirmed that its subsidiary Airtel Networks Kenya has sought approval from the Communications Authority of Kenya (CAK) to acquire the telecommunications licences and subscribers of Essar Telecom Kenya, which operates under the brand name Yu. Bharti said that under the proposed arrangement, over 2.7 million Yu customers would become part of Airtel Kenya's mobile network. The company did not provide further details. Kenya's leading mobile operator, Safaricom said it was also in talks to acquire a stake in Essar Telecom and take over Yu's network assets. Safaricom plans to buy Yu's base stations to support its efforts to improve network quality. No financial details of the proposed transaction were disclosed. According to the latest statistics from CAK, Yu holds a market share of 8.8 percent in the country, putting it in third place ahead of Orange Kenya.
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Category:Telecommunications