Kenya’s High Court has declared the sale of Safaricom’s 15% stake to Vodacom null and void
The court ruled that the divestiture contravened the Constitution and the law and ordered the 15% shares to be restored.
Vodacom had already paid for the 15% Safaricom stake, and the transaction closed on June 30.
Vodacom has since said that it will appeal the Kenyan High Court decision that nullified its purchase of the Government’s 15% stake in Safaricom.
It will also seek a stay of the ruling as the appeal is heard.
