Telkom, Airtel planned merger deal flops

Merger talks between Kenya’s Telkom and Airtel, will no longer continue.

The CEO of Telkom, Mr. Mugo Kibati, said the two companies have mutually agreed to stop the deal citing challenges of securing the required regulatory approvals for the deal.

He revealed that Telkom will now pursue solo actions to grow its business.

All 500 employees of Telkom fired during the merger negotiations, have been recalled.

Telkom, which competes on lower prices for broadband, launched the world’s first commercial internet to rural areas using balloons last month, in partnership with Alphabet’s Loon.