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CORRECTED - Safaricom, Bharti receive conditional approval to buy Kenyan rival

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Reuters NAIROBI
Last Updated : Mar 28 2014 | 8:20 PM IST

NAIROBI (Reuters) - Kenya's telecoms regulator granted conditional approval to the nation's biggest telecoms operators, Safaricom and the local unit of Bharti Airtel to buy the No. 3 network, Yu, operated by Essar Telecoms.

The regulator said on Friday it would approve the deal, subject to Safaricom and Airtel each paying a $5.4 million fee for the licence belonging to YU.

(Reporting by George Obulutsa; Editing by James Macharia)

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First Published: Mar 28 2014 | 8:03 PM IST

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