[kictanet] Is the Telco/ISP sector manifesting Utility type symptoms?

[Ali Hussein]

Listers

This story got me thinking...

KDN plans sale of stake to recover from losses
By OKUTTAH MARK

Posted  Monday, October 1  2012 at  20:19

IN SUMMARY
Altech of South Africa, which owns 60.8 per cent stake, says it needs new capital to shore up its Kenyan business that is facing stiff competition from rivals Wananchi Telecoms, AccessKenya and Telkom Kenya.
The Kenyan unit has been in losses mainly due to the loss of big contracts including the multi-million shilling contract with Safaricom last year — a move that has seen KDN along with Altech’s West Africa operations hit earnings of the parent company.
Altech has blamed its poor performance on its East African and West African units, which it has placed on auction block. It has inked an agreement to sell 75 per cent of its interest in Altech West Africa.
Telecoms infrastructure firm Kenya Data Networks (KDN) will sell a significant stake to a strategic investor in December to inject cash and help it recover from losses.

http://www.businessdailyafrica.com/Corporate+News/KDN+plans+sale+of+stake+to+recover+from+losses/-/539550/1522572/-/ohrlxk/-/index.html

Regards 

Ali Hussein

+254 773/713 601113

Sent from my iPad
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