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Shareholder wars rock planned sale of Zuku TV
From left, founders of Wananchi Group Richard Bell, ICT secretary Joe Mucheru and Njeri Rionge. Bell has moved to court seeking to stop his business partners from suing him. FILE PHOTOS | NMG
Owners of Internet and pay TV service provider Zuku have been thrust into a vicious boardroom war sparked by plans to sell off Wananchi Business Services — the unit that deals in corporate data services.
The company’s founder, Richard Bell, has moved to court seeking to stop his partners — Wananchi Nominees Limited, ISP Kenya Limited and East Coast Telecoms Limited — from instituting any civil or criminal proceedings against him or East Africa Capital Partners Management LP (a company he owns) for alleged mismanagement, asset stripping and tax fraud schemes.
