African private equity firm Helios Investment Partners is reportedly considering an acquisition of “some or all of” the 70% stake in Telkom Kenya being sold by parent company Orange (EPA:ORA).
Helios is close to concluding negotiations with Orange over a 51% stake, and would subsequently need to reach an agreement with the Kenyan government, which owns a 29% stake, according to Business Daily Africa.
Confirming the involvement of Helios, Kenyan treasury secretary Henry Rotich told the newspaper that the company would need a strategic partner, as well as a local talent element. He also said that a previous takeover attempt by Vietnam’s Viettel had collapsed due to its onerous demands, some of which had a government element. Nigeria’s Megatech Engineering had also been interested in buying the company last year.
It is unclear whether Orange would stay on board as a strategic partner, or whether Helios would bring a new one on board.
Helios’ current investments include Kenya-based cableco Wananchi and Helios Towers Africa.
A spokesperson for Orange was not immediately available for comment.