Vodacom's Safaricom deal struck down by Kenyan high court

Kenya's High Court annulled the sale of the government's 15% stake in Safaricom to Vodacom for KSh204.3 billion and ordered the shares returned to the state. Vodacom is appealing the decision and seeking a stay of execution.

• Court ordered return of 15% of Safaricom to the Kenyan government
• KSh204.3 billion deal closed June 30 at KSh34 per share
• Vodacom filed an appeal and a request to suspend the ruling
• Vodacom shares on the JSE fell nearly 4% but closed down 0.6%