Written by Tom Jackson | From IT Web Africa

Kenya’s biggest mobile network Safaricom is making progress in acquiring the infrastructure of smaller rival yuMobile.
This is according to Safaricom chief executive officer (CEO) Bob Collymore speaking to ITWeb Africa about the planned acquisition.

The deal has been a complicated affair since it was first made public in March, with Safaricom in April saying it had withdrawn from negotiations owing to stringent terms attached by the Communications Authority of Kenya (CA).

But earlier this month Safaricom confirmed it had re-entered the bidding, and that it expected to complete the acquisition within months after offering KES8 billion.

Subsequently, Collymore has told ITWeb Africa that while progress has been made on the deal, it would have to be subject to approval from the CA, the Competition Authority of Kenya (CAK) and Safaricom shareholders, with the company’s annual general meeting (AGM) planned to take place next month.

“Things are on the move again,” Collymore said.

“Approval of Shareholders will be requested at the upcoming AGM for the purchase of the towers, spectrum and other specific assets – including a number of staff – if the relevant approvals from CA and CAK are given and gazetted,” he added.

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