Vodacom has officially become the majority owner of Safaricom after completing the purchase of the Kenyan government’s 15 percent stake in the telecom operator in a transaction valued at 2.1 billion dollars.
The acquisition was completed on June 30, shortly after the Court of Appeal approved the long awaited transaction. With the latest purchase, Vodacom’s ownership in Safaricom has increased from 35 percent to 55 percent, giving the South African company controlling interest in East Africa’s largest telecommunications provider.
The Kenyan Treasury is expected to receive about 204.3 billion Kenyan shillings from the sale. In addition, the government will receive a dividend payment of 40.2 billion Kenyan shillings through its remaining 20 percent ownership in the company.
The transaction is regarded as one of Africa’s largest telecommunications deals in recent years and places
