/ 15 February 2001

KENYA MULLS RE-TENDER OF TELKOM SALE

THE Kenyan government is considering whether to reoffer a 49% stake in state-owned Telkom Kenya because its attempts to get a higher price have made little progress. Finance Minister Chris Okemo said the government was still negotiating with Mount Kenya Consortium, a group led by Zimbabwe’s Econet Wireless Holdings hoping to get the company to further increase its bid. The sale of the stake hit another snag this week after the country’s High Court granted a temporary injunction, brought by Telkom Kenya employees, preventing the utility from transferring the stake to any other investors. The court, however, allowed the government to continue negotiations over the sale of the stake. – Reuters