Airtel Africa PLC said on Monday that its Kenyan subsidiary, Airtel Kenya Networks Ltd, has agreement settlements relating to operating and spectrum licences.
The London-based telecommunications company focused on Africa said the settlements were agreed with the Communications Authority of Kenya. As a result, Airtel Kenya will pay $20 million in four instalments in the next three years.
The subsidiary has also received approval for the replacement of its temporary licence with a 10-year frequency licence for its 2x10 MHz of spectrum in the 2100 MHz band. Airtel Kenya will pay $10 million for the 10-year licence.
Shares in Airtel Africa were down 6.0% at 123.80pence on Monday morning in London.
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