Telkom Kenya outlined plans to transfer its mobile operations, enterprise and carrier business to Airtel Kenya as part of a deal made in February, but not its debt.
The information was provided by the parties in a press notice with details on the structure of the deal.
In the notification, the companies stated: “The proposed transferee (Airtel) is not assuming nor does it intend to assume all the liabilities incurred in the transfer business by the proposed transferor (Telkom).”
It is unclear how much the debt is, with Business Daily putting it down as “billions of shillings”.
Meanwhile, the companies also said “after completion of the proposed transaction, the proposed transferee (Airtel) will be renamed to reflect the joint venture of the parties”.
Last month the deal hit a stumbling block when a committee in Kenya’s National Assembly voiced concerns, stating it would not approve the deal until it has more details.Subscribe to our daily newsletter Back