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IPS bids to raise stake in Seacom

IPS Cable Systems has made a bid to acquire further shareholding in Africa’s premier fibre optic undersea cable firm, Seacom, in a move set to realign the regional broadband market.

According to an inquiry notice from the Comesa Competition Commission, IPS Cable Systems is seeking to increase its shareholding by another 10 per cent of Seacom, the Sh65 billion fibre cable.

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