The State’s offer to sell its 33.8 percent stake in the five-star InterContinental Hotel in Nairobi has received a cold reception from an investment fund associated with the family and allies of former president Daniel arap Moi.
An investment banker close to the Moi-linked Sovereign Group told the Business Daily that the firm had little interest in purchasing the government stake amid the slump in the travel sector and the exit of the anchor partner -- the Intercontinental Hotels Corporation Group.
