UK multinational Vodafone Group Plc says it has recorded a loss of €37 million (Sh5.1 billion) from the sale of the company holding M-Pesa funds to Safaricom at a token price of $1 (Sh128).
The loss represents the transfer of a valuable subsidiary – M-Pesa Holding Company Limited— for almost nothing in a deal that is part of a years-long plan to put Safaricom in charge of the critical aspects of the mobile money platform.
