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Vodafone implicated in Safaricom scandalVodafone appears to have become entangled in murky dealings surrounding its partner in Kenyan's Safaricom mobile phone network. The mysterious partner, Mobitelia Ventures, apparently holds a five per cent share of the network. The trouble started when the Kenyan government thought it'd be a jolly good idea to sell off the 60 per cent share it has in Safaricom – Vodafone supposedly had the other 40 per cent. When it was discovered that Mobitelia actually held 5 per cent, Kenya's Public Investment Committee (PIC) decided to investigate. Efforts to track down the directors behind Mobitelia simply pointed to a number of off-shore companies in the likes of Guernsey and Antigua. It was a mystery. However, sources in Kenya suggest that the people hiding behind these front companies could be politicians from the former Kanu Government. Plus the holding could be worth as much as $100 million. Consequently the PIC ordered a halt to the government's Safaricom sell-off. The situation has been made more complicated by Vodafone's attitude to the Mobitelia holding. "Vodafone would prefer to be in a position to make a comprehensive disclosure but, having taken legal advice, could be in breach of a duty of confidentiality were it to discuss Mobitelea further," Vodafone's CEO for the Americas, Africa, China and India Gavin Darby was quoted as saying. Meanwhile Vodafone spokesperson told the Sunday Telegraph that, "Mobitelia has never had representation on the board of Vodafone nor on the board of Safaricom." The net result of all this confusion is that the UK's Serious Fraud office has flown to Nairobi to investigate. Which means the Kenyan government won't be selling off its shares for quite some time. |
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