Essar Buys 49 Percent Stake In Troubled Kenyan Telco - Econet Wireless; To Invest $500 M In Rollout

Entities Mentioned

• Essar
• Vodafone-Essar
• Econet Wireless International
• Essar Global

1. Essar Communications Holdings Limited (ECHL), a subsidiary of India's Essar Global has acquired a 49 percent stake in Kenyan telecom firm Econet Wireless International (EWI) for an undisclosed amount, reports AllAfrica. EWI owns a 70 percent stake in Kenya's Econet Wireless Kenya, and AllAfrica terms this "a new lease of life" for the telco, adding that the operator which is yet to roll out its services despite having been issued frequency and license in 2003, primarily due to court battles. The company has been on the lookout for a financer, and their request to to get Essar ... (Read Full Article)

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