The Standard Group Plc is a multi-media organization with investments in media
platforms spanning newspaper print
operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a
leading multi-media house in Kenya with a key influence in matters of national
and international interest.
It is often referred to as a sleeping giant in the telecoms sector owing to its longevity, vast asset holding and guaranteed government support. But an asset stripping spree over the past few years has reduced Telkom Kenya to a shell that is now a prime candidate for a hostile takeover.
In the last few years, State agencies and the ICT Ministry have taken chunks of multi-billion-shilling assets from Telkom Kenya at a time the telecommunications industry in the country is undergoing a dynamic transformation.
Aside from undermining Telkom Kenya's chance to compete fairly and profitably and scuttling a promising merger with Airtel Kenya, the asset stripping has exposed a shady shareholding structure of proxy companies and connected individuals who are making a killing from the dysfunction at the giant State corporation.
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