The government, through the Capital Markets Authority (CMA), on Wednesday, January 8, sought to clarify reports regarding the sale of a majority stake in Standard Media Group PLC to a Rwandan firm.
The CMA dismissed as fake a purported press release attributed to them, which claimed to acknowledge the sale of a majority stake in the troubled media house to the Rwandan company, stating that no such transaction had taken place between the two parties.
In its role as the government body responsible for regulating and facilitating the development of Kenya's capital markets, CMA clarified the situation concerning the sale of the media house, which has for long been in financial difficulties.
The now-flagged press release claimed that the required documents for the transaction between the two parties had been received and that the process adhered to the guidelines set by the CMA.
