FT steps up pressure over Telkom Kenya assets
France Telecom is turning the screw on Kenya’s government, demanding it gives up its stake in a national fiber network as compensation for an alleged asset strip at Telkom Kenya.
The French incumbent claims key assets were stripped from Kenya’s national telco as its deal to purchase a controlling 51% stake in the firm was completed, but says its losses would be covered if the Kenyan government – its partner in Telkom Kenya – hands over the keys to the National Optic Fiber Backbone.
However, Kenya’s government said it couldn’t give up control of the fiber network, because it isn’t a Telkom Kenya asset Africa’s Business Daily reports.
France Telecom was forced to re-state its commitment it had demanded a refund of the €385 million purchase price to cover the lost assets.