Safaricom, Airtel sign Sh10.5bn deal to acquire yuMobile assets

yuMobile sales agents at work. Close to 90 per cent of the company’s employees will be absorbed by the two telcoms, with Safaricom taking over the network, IT and office infrastructure and Airtel acquiring the company’s subscribers. PHOTO | FREDRICK ONYANGO | NATION

What you need to know:

  • Competition heating up with expected entry of KQ, Tangaza Pesa, Zioncell and Finserve
  • The Sh10.5 billion transaction was concluded on Saturday.

Kenya’s Big Three mobile operators finally put pen to paper on a deal that will see yuMobile exit the scene, selling its assets to Safaricom and Airtel.

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