Competition Authority Approves STOA Investment in Atlas Tower Kenya
According to the Authority, the transaction was found unlikely to substantially lessen competition within Kenya’s telecommunications infrastructure market or raise any public interest concerns.
The Competition Authority of Kenya (CAK) has approved, without conditions, the acquisition of a 31.03% minority shareholding—complete with veto rights—by France-based impact investment fund, STOA S.A., in Atlas Tower Kenya Limited, a firm engaged in developing and maintaining telecommunications towers and related infrastructure across the country.
According to the Authority, the transaction was found unlikely to substantially lessen competition within Kenya’s telecommunications infrastructure market or raise any public interest concerns.
The approval marks another step in strengthening Kenya’s digital infrastructure investment landscape, as foreign investors increasingly partner with local firms to expand network capacity and connectivity solutions.
