Category : Business | Sub Category : | Posted on: 2019-12-10 10:17:28Tweet
Competition Authority of Kenya (CAK) says that Airtel, Telcom merger is still being reviewed and distanced itself from suggestions by the Ethics and Anti-Corruption commission (EACC) that the process is on halt.
EACC had alleged that the merger will not continue until allegations of corruption are probed. EACC had written to the CAK on October 15 claiming that it did not protest the merger. But EACC Director of Legal services David Too told parliament last month that the transaction was still under probe.
Mr Too said that they had not approved any merger but had issued advisories to authorized government entities to protect the interest in the approval process of the merger. The agency is seeking to investigate the circumstances under which the Treasury surrendered its ownership of Telkom Kenya to a French multinational, orange and later on sold its shares to Helios.
Earlier on, Safaricom had put hurdles on the path by demanding that both companies settle their debts and provide a level playground for the spectrum. Safaricom fears that the merger will give it a run for its money because of the superior services that the joint companies are expected to offer.