StockMarketWire.com - Africa-focused telecom and payments group Airtel Africa said it was no longer planning to merge with Kenya's Telkom after both parties decided to abort the deal.

The two companies had agreed in February 2019 to combine their businesses in Kenya to create an integrated platform with mobile, enterprise and wholesale divisions.

Airtel said the transaction, which faced regulatory hurdles, had gone through a very lengthy process that had led the parties to reconsider their stance.

'Kenya is a large and growing market and we remain committed to build a growing profitable business,' chief executive Raghunath Mandava said.


At 2:10pm: [LON:AAF] Airtel Africa PLC share price was -0.65p at 56.25p



Story provided by StockMarketWire.com