Bob Collymore, CFO buy Safaricom shares



Bob Collymore, Safaricom’s CEO, and the operator’s chief financial officer (CFO) have bought new shares in the telco in a demonstration of their confidence in the company they lead.

Safaricom has disclosed that Mr Collymore bought 320,000 shares in the year to March currently worth Sh2.3 million while CFO John Tombleson acquired 600,000 shares now valued at Sh4.3 million.

“Both mine and John’s shares were purchased in our personal capacity on the open market,” said Mr Collymore, in response to questions from the Business Daily on whether the new shares were acquired through stock compensation or the Employee Share Option Scheme (ESOP).

... Wealthy investors including Chris Kirubi, John Kimani and Baloobhai Patel have been buying more of the Safaricom’s shares in the year to May, when stock hit a five-year high.

The telecoms industry regulator has slashed a key mobile calling tariff by 20 per cent, a sigh of relief for operators after a vicious three-year price war.

From Thursday, it will cost operators Sh1.15 a minute to terminate calls to other networks, down from Sh1.44 a minute.

http://www.standardmedia.co.ke/...ts-call-termination-rate

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