Stephenson Harwood in Africa telecoms win
Stephenson Harwood has won a competitive bid to advise the Kenyan Government on the privatisation of leading telecoms company Safaricom. The float on the Nairobi Stock Exchange is the largest initial public offering in East Africa to date and Safaricom is a new client for the top 40 UK firm.
September 26, 2007 at 10:17 PM
2 minute read
Stephenson Harwood has won a competitive bid to advise the Kenyan Government on the privatisation of leading telecoms company Safaricom.
The float on the Nairobi Stock Exchange is the largest initial public offering in East Africa to date and Safaricom is a new client for the top 40 UK firm.
Stephenson Harwood won the instruction a month ago, after bidding as part of a consortium of Kenyan legal firms. Other firms that tendered are understood to include Clifford Chance, Denton Wilde Sapte and Lovells.
The consortium – which included Kenyan firms Muriu Mungai & Co, Kipkorir Titoo & Kiara, and Muthaura Mugambi Ayugi & Njonjo – approached the UK firm due to its links with Muriu Mungai from earlier work in the region.
Stephenson Harwood's litigation team has been active in the region, including involvement in a number of arbitrations. It is understood that Safaricom may also be floated on a second, international exchange.
The deal is being led for Stephenson Harwood by corporate partner Pawan Sharma, who joined the firm in April this year from boutique Grundberg Mocatta Rakison.
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