by: xpoolPosted on:

Vodacom to Acquire Majority Stake in Safaricom for $1.6 Billion

Vodafone’s Kenya subsidiary, Vodacom, is poised to acquire a majority stake in Kenyan telecommunications giant Safaricom after agreeing to purchase 15% of the Government of Kenya’s issued shares valued at $1.6 billion (KSh 204.3 billion). This move will raise Vodacom’s ownership in Safaricom from 40% to 55%. The deal was announced through a statement by Safaricom on Thursday. The company confirmed receiving a formal notice of intention regarding a significant Proposed Transaction.

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