Mobile phone services firm Safaricom Limited has acquired a 10 per cent stake in The East Africa Marine System (TEAMS) undersea fibre optic company after it bought out rival firm Essar for US$11mn
Safaricom stake in TEAMS now reaches 32.5 per cent and the company said it now hoped to offer faster and more efficient data services by upgrading its network to 4G.
Other leading shareholders in TEAMS include Telkom Kenya at 22.5 per cent and the Kenya government with a 20 per cent stake. The rest of the company is owned by Kenya Data Networks with 10.82 per cent, Wananchi Telecom with 6.14 per cent and Jamii Telecom with the remaining five per cent.
TEAMS is one of the four other undersea cables linking Kenya to the globe. Others include Seacom, Eassy and LION owned by France Telecom. France Telecom has a 70 per cent holding in Telecom Kenya.