Airtel Kenya-Telkom merger called off

Airtel Networks Kenya Ltd, a subsidiary of Bharti Airtel’s Africa unit, has called off the merger with Telkom Kenya Ltd citing challenges to secure regulatory approvals for the deal, Airtel Africa Plc notified the London Stock Exchange, where the telco was listed last year.

“The transaction has gone through a very lengthy process, which has led the parties to reconsider their stance. Accordingly, Airtel Africa and Telkom have decided to no longer pursue completion of the transaction,” Airtel Africa said in a regulatory filing on Wednesday.

Bharti Airtel Ltd in February 2019 had said its Kenya unit agreed to acquire Telkom Kenya, the East African nation’s smallest telecom operator, in which the state still has a 40% shareholding, after a majority stake was sold in 2007.