Tycoon asks watchdog for Nakumatt deal details

Nakumatt Nyali in Mombasa. file photo | nmg

Tycoon Humphrey Kariuki says the proposed Nakumatt-Tuskys merger could disrupt the retail sector if not carefully handled by the competition watchdog.

Mr Kariuki last week wrote the Competition Authority of Kenya (CAK) requesting details of the proposed acquisition of a controlling stake in the troubled chain by rival Tuskys. He says creditors owed billions should be allowed to scrutinise the deal.

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