Kenya to Appeal Safaricom Ruling
Kenya will appeal a court ruling that canceled the sale of a 15 percent Safaricom stake to Vodacom. The finance minister expressed confidence the deal followed all legal standards.
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Kenya will appeal a court ruling that cancelled its $1.6B sale of a 15% stake in Safaricom to VODACOM GROUP LTD, Finance Minister John Mbadi said on Wednesday. The transaction had lifted Vodacom's shareholding in Safaricom to 55%. The legal challenge threatens President William Ruto's fiscal consolidation plans.
