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MTN seeks to buy Econet’s stake in yu

By KENNETH KWAMA

After several past failed attempts, MTN Group Ltd could finally gain its much-desired foothold in the Kenyan market, if a $450 million (Sh36 billion) buyout offer for yu sails through. MTN, which is Africa’s largest mobile phone provider, has offered to buy Econet Wireless International’s (EWI) stake in local mobile phone provider Econet Wireless Kenya (EWK), which trades locally as ‘yu’, as part of its growth strategy in emerging markets.

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