Bharti Airtel is reportedly in talks with Essar Group’s Yu Mobile in Kenya, with a deal to potentially be concluded within two to three months.
HumanIPO reported earlier today the Essar Group had denied it was looking to exit operations in the East African country where it has a 10 per cent market share and trails behind leaders Safaricom and Airtel Kenya.
The Economic Times, in India, is reporting sources as saying Bharti Airtel could pay between US$70 million and US$75 million for YuMobile.
In the Essar Group’s previous statement, it said it would be looking for external investment as its seeks to roll out more services in the country.
Yu Mobile has already applied for 3G license.
If a deal is completed, it would be Bharti Airtel’s third acquisition in Africa after it bought Warid Telecom’s operations in Uganda and Congo operations.
Neither Essar or Bharti would comment on the speculation.