The Competition Authority of Kenya (CAK) will not conduct a full review of Vodacom Group’s proposed acquisition of an additional 20 percent stake in Safaricom, leaving the transaction to be assessed by regional competition regulators-in a move that signals a shift in how large cross-border mergers involving Kenya are handled.
Vodacom has signed an agreement to buy a 15 percent stake from the government and another five percent from its parent firm Vodafone Group, aiming to raise its ownership in Safaricom from the current 35 percent to a controlling 55 percent. The total value of the deal is Sh272 billion.
