Safaricom Expects to Complete Purchase of Yumobile Within Months

Safaricom Ltd., East Africa’s biggest mobile phone company, expects its joint acquisition of rival yumobile to be completed within months at a cost of about $120 million, Chief Executive Officer Bob Collymore said.

Objections to the deal raised by Kenya’s communications-industry regulator have been withdrawn and the Nairobi-based company expects to submit the transaction for approval to the country’s competition authority soon, Collymore said today in an interview at the U.S.-Africa Leaders Summit in Washington.