Money Markets
Going, going... Gone!
Vivendi beats others to the tape in clinching Zain Africa for Sh960 billion, leaving analysts divided over whether Kuwait-based MTC empire is really worth that much. In Kenya, it heralds higher stakes in the converged data and voice telecoms services market as the French firm ponders new strategies to conquer a market it left with its face bruised only five years ago.
Posted Friday, July 3 2009 at 00:00
Today, Zain maintains its hold on a subscriber base of three million and commands 20 per cent of the market, but is yet to commit to a data product that would ensure its longevity in the changing tides of Kenya’s market.
But the industry agrees that a sale of Zain Africa would merely mean another change of guard at the local office, and the inevitable name change.
“We do not have to be notified of this deal because the sale is taking place at the international level, which would translate to the management changing at the local office. If there was a change in the local shareholder, then we would be informed,” said Mr Charles Njoroge, Director-General of the CCK.
mkinyanjui@nation.co.ke
RSS