Receivership -Cabinet has rescinded a decision to purchase a 60 per cent stake in Telkom from Helios Investment Partners for Sh6.09 billion, and now wants the the company to refund the money.
Helios Investors LLP is based in the UK while its partner/subsidiary Jamhuri Holdings Limited is based in Mauritius.
“By dint of this decision by Cabinet, Jamhuri/Helios will refund to the Government of Kenya the amount paid as consideration for the takeover,” reads dispatch from Cabinet.
The resolution was reached during a cabinet meeting chaired by President William Ruto that was held at State House on Tuesday.
According to the dispatch, the move is set to address governance issues at the telco.
The resolution was reached during a cabinet meeting chaired by President William Ruto that was held at State House on Tuesday.
According to the dispatch, the move is set to address governance issues at the telco.
