This means Jamhuri/Helios will refund the state the amount paid for the purchase.
A Cabinet Dispatch released on Tuesday indicated that the decision will offer Telkom Kenya an opportunity to source and onboard another strategic investor, subject to the receipt of all regulatory approvals.
“Cabinet’s interventions will enhance the operational capacity of Telkom Kenya and make it a competitive player in the telecommunications market,” read the dispatch.
Last year, former President Uhuru Kenyatta’s regime paid a total of Sh6.2 billion to Helios Investors LLP via Jamhuri Holding Ltd. (JHL), its Special Purpose Vehicle (SPV).
However, the deal had not been approved by the National Assembly.
