Vodacom’s R34.5 billion deal to acquire Safaricom will be fast-tracked by Kenya’s Court of Appeal after the country’s High Court voided the acquisition.<\/p>\n\n\n\n
In an announcement on the Stock Exchange News Service (SENS), Vodacom said the Appeals Court had opted not to determine the application, but rather fast-track the appeal.<\/p>\n\n\n\n
“The Court decided not to determine the application but instead recorded to fast-track the substantive appeal,” the company said.<\/p>\n\n\n\n
In the interim, Vodacom will retain control of the shares it had purchased from the Kenyan government in Safaricom.<\/p>\n\n\n\n
“The prevailing status quo in respect of the shares and purchase consideration shall be maintained pending the hearing of the appeal,” Vodacom said.<\/p>\n\n\n\n
The company previously announced it would acquire a 20% stake in Safaricom, with 15% coming from the Kenyan government.<\/p>\n\n\n\n
This acquisition was completed in June 2026, valued at roughly R34.5 billion at the time, but Kenya’s High Court later placed a conservatory order on the deal, preventing it from advancing.<\/p>\n\n\n\n
The Court raised questions about the Safaricom deal, particularly regarding takeover exemptions and the deal’s approval by Kenya’s takeover authority.<\/p>\n\n\n\n
Concerns over the constitutionality of the deal ultimately led the High Court to issue a conservatory order, preventing the sale from proceeding.<\/p>\n\n\n\n
\u201cA conservatory order is hereby issued restraining all the respondents from proceeding with the intended sale,\u201d the court said at the time.<\/p>\n\n\n\n
According to the court, the deal violated Kenya’s constitution, and critical documents were not disclosed for public scrutiny.<\/p>\n\n\n\n
After this ruling, Vodacom told MyBroadband that it had noted the court’s decision, but stood behind the original rationale for the acquisition.<\/p>\n\n\n\n
“Our long-term strategic partnership with Safaricom remains firmly intact,\u201d a spokesperson for the company said.<\/p>\n\n\n\n
\u201cEast Africa remains an important growth region, and Safaricom continues to play a key role in our broader ambition to help build Africa\u2019s leading digital and financial services ecosystem.\u201d<\/p>\n\n\n\n
Following this, Vodacom appealed the decision to reverse the transaction and applied for a stay order with the Kenyan Court of Appeal.<\/p>\n\n\n\n
“On 13 October 2026, the application for a stay order in relation to Vodacom\u2019s transaction to acquire a controlling stake in Safaricom came before the Court of Appeal,” the company said.<\/p>\n\n\n\n
Ultimately, the court opted to fast-track the appeal and left Vodacom in control of the shares it had previously purchased from the Kenyan government.<\/p>\n\n\n\n
Following this decision, Vodacom said it continued to stand behind its original rationale for the acquisition.<\/p>\n\n\n\n
“Vodacom remains confident in the strategic rationale for the Acquisition and will continue to update shareholders on any material developments relating to the appeal process,” the group said.<\/p>\n\n\n\n
(Reported with Bloomberg)<\/p>\n","protected":false},"excerpt":{"rendered":"
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