Kenya’s Safaricom not to be broken by regulator
Kenya’s telecoms regulator has ditched a proposal to break Safaricom up into separate telecoms and financial services businesses due to its dominant size. An initial draft report on boosting competition in the sector had recommended the break up of the firm that is Kenya’s biggest by market value.The proposal had been dropped from a revised version of the report. The company, 35 percent owned by South African group Vodacom and 5 percent by Vodacom’s major shareholder Vodafone, has 29.4 million users, 71.9 percent of Kenya’s total. It dwarfs the two other operators in the mobile market: the local subsidiary of India’s Bharti Airtel and Telkom Kenya, owned by London-based Helios Partners.