KA-INVESTOR
Nairumour (as Bankelele puts it) has it that Radio Simba is winding up its operation in preparation for a take-over by a leading Kenyan media house in the New Year - 2009. Could this be the Radio station Standard Group mentioned they were in the process of acquiring for Ksh.250 million in a press release earlier in November this year?
In the Standard Group’s November press release it says:
Radio Simba is a joint venture between Toads Media Group Kenya and FM holdings who own Radio Simba Kampala. In Kenya it operates from Nairobi.“…. The Standard Group wishes to announce that it is at advanced stages of concluding negotiations that would lead to the acquisition of an entire interest of a company that holds radio frequencies covering most of the country. The modalities of these transactions are being worked out and the timing of commencement of operations and related details will be announced at a later stage. The Standard Group plans to invest within the next one and half years an estimated of Kenya Shillings Two Hundred and fifty Million only (Kshs 250 million) inclusive of the acquisition cost and in the development of a robust infrastructure.”
