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Creditors increase stake in Zuku with debt-equity swap

Wananchi Group owns Zuku Fiber, Zuku payTV and Simbanet business services brands. [File, Standard]

Three strategic investors in Wananchi Group, which trades as Zuku, have been given the nod to convert a debt they had advanced to the internet service provider into equity.

The unconditional approval of the transaction by the Competition Authority of Kenya (CAK) to Triple HoldCo Ltd, Liberty Global Europe 2 Ltd and Altice Africa SARL will see the three increase their stake in Wananchi Group.

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