Kenya Sells 15% Safaricom Stake to Vodacom for KSh 204 Billion.

The deal prices shares at KSh 34 each, 17% over the six-month average and 20% above the recent Nairobi exchange close of KSh 28.15. An upfront dividend boosts the total to KSh 244.5 billion for infrastructure and sovereign wealth. Vodacom will own 55% of Safaricom, up from 35%, with strict rules ensuring a Kenyan CEO, no layoffs, brand protection for M-Pesa, and local support. While some like MP Ndindi Nyoro call for open bidding citing past buyouts that drove prices up 209%, officials highlight the fair value and fiscal relief amid no rival offers.

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