This is weird thinking but i believe its doable.

AIRTEL KENYA:
India’s Bharti Airtel must sell 15 per cent of its stake in
Kenya’s second largest telecoms operator to a local to
avoid getting into trouble with the regulators.
The mandatory share sale is to bring the firm in full
compliance with ownership regulations that require
telecom companies to maintain at least 20 per cent local shareholding.

YU:

Essar has made it official that it
wants to sell of its Yu Mobile
brand in Kenya. This emerged
as the India-based company
contracted BNP Paribas to value
the company in readiness for
the sale.
Essar Telecom had pumped in US$ 500 million in growing its business in Kenya. It became the fourth mobile operator in the country and put more pressure in the mobile wars.

Why would a local investor want to buy into these two telcos which have an unhealthy fiscal position? And if that local investor is brave enough to take the deal, how long would it take these two firms to breakeven and pay back shareholders loans?

Untouchable these two.

Orange telco too is unhealthy. Lucky to have gok as a partner with deep pockets (taxpayers paying for its toxin cashflow as loans squeeze it mercilessly).

If these 3 telcos were healthy, mpesa bank would be trading around 2 - 2.50/- with a negative outlook on profits and dividend pay cuts.

As long as those 3 competitors are having a sickly fiscal position with poor executive biz strategies, I don't see why a local investor should take such a huge risk with minimal potential for breakeven let alone profits!