Safaricom’s #ticker:SCOM British parent company, Vodafone, is set to sell 35 per cent stake in the Kenyan telecom to its South African subsidiary Vodacom in a deal valued at Sh266 billion (€2.4 billion).
Vodafone is currently Safaricom’s largest shareholder with 40 per cent interest. Under the deal, Vodafone will retain five per cent shareholding in Safaricom and cede majority of its stake for a bigger slice of Vodacom, raising its stake in the South African company from 65 per cent to 70 per cent.
