Negotiations over the potential sale of Telkom Kenya could be concluded by the end of this month, according to Daily Nation.

Helios Investment Partners is reportedly attempting to acquire some or all of majority shareholder Orange’s 70 per cent stake in the operator, with the company thought to be keen on a 51 per cent majority.

Daily Nation reports National Treasury Cabinet Secretary Henry Rotich said the government would decide on whether it would retain all of its own 30 per cent stake, or sell part of it, as it decides its future position within the firm.

“We will begin to come on board before the end of this month, discussions on the shares will be concluded as per the direction the talks are taking.”

“We will meet the investors. As our new partners, they will have to lay bare what they bring to the table,” Rotich added.

Orange, which has been looking to sell its stake for some time, has seen previous bids fail, including one from Vietnam’s Viettel at the end of last year.

When news first broke of Helios’ interests, Rotich said Orange had told the government that the company “is a serious buyer”.

It is unclear whether Orange is keen on retaining up to 20 per cent in the company, or seek a complete exit.

According to GSMA Intelligence, Telkom Kenya has just under four million connections in the country, lagging behind rivals Airtel and market leader Safaricom, which boasts more than 24 million connections.