Assets
Made in India. Built by Essar.
Yu Telecom
Essar Global Fund (EGFL) through its portfolio company, Essar Telecommunications Kenya Ltd (ETKL), operated the popular yuMobile telecom servce in Kenya.
EGFL, together with its partners, invested in ETKL in 2007-2008. The investment led to an upgrade in infrastructure, improved customer service offerings and brought new and innovative marketing strategies to the Kenyan mobile telecommunications market.
In 2015, ETKL sold its network, IT and office infrastructure to Safaricom, while Airtel took over the 2.55 million subscriber base of yuMobile. The total deal value of the transactions was approximately US $20 million