Kenyan operator Safaricom has revealed that it has received all regulatory approvals required to complete its USD 80 million acquisition of various assets of Essar Telecom Kenya, which operates under the Yu brand.According to the company, the acquisition received the approvals of the Communications Authority of Kenya, the Competition Authority of Kenya and the Capital Markets Authority of Kenya.
According to Telecompaper, the transaction involves the acquisition by Safaricom of Yu’s passive network infrastructure and frequency spectrum, as well as 150 of Yu’s employees. Safaricom will now embark on the process of incorporating Yu’s assets into its network as well as start to use the spectrum.
Darryl Linington
