In connection with the privatization process launched by the Kenyan State, Alcazar Capital a member of the consortium controlled by France Telecom, has been selected as the preferred bidder for the acquisition of a 51% stake in the incumbent operator Telkom Kenya. The consortium has acquired its majority stake in Telkom Kenya for a consideration of US$ 391 million.  The agreements with the Kenyan State include an IPO within 2 to 5 years, at which time the consortium has agreed to reduce its stake in Telkom Kenya to 40%. Telkom Kenya serves over 280 000 fixed customers and will benefit from a new mobile license.

For this operation Alcazar Capital Limited, whose fund will own a 15% stake in the consortium, has teamed up with France Telecom. Alcazar is a private equity firm formed by Agility, one of the world’s leading logistics services providers, which has a strong presence in emerging markets.