Plans for the merger include naming the merged entity Airtel-Telkom, as well as numerous conditions the company is required to fulfill on behalf of its employees and existing government contracts, amongst others.
The real estate portfolio of mostly government-owned Telkom Kenya does not form part of the merger agreement.
“The merged entity shall ensure that at least three hundred and forty nine (349) of the six hundred and seventy four (674) employees of the target are retained as follows:
(a) 120 employees by the merged entity for a period of two years from the date of the implementation of the merger;
(b) 114 employees by Telkom Kenya Limited for a period of two (2) years from the date of the implementation of the merger; and
(c) 115 employees to be absorbed by the network partners of the merged entity,” CAK boss Wang’ombe Kariuki said.
In the recent past, the Kenyan government investigated…