Vodafone to acquire Ghana Telecom

Jul 01, 2008 (Datamonitor via COMTEX) -- VOD | Quote | Chart | News | PowerRating -- UK telecoms services provider Vodafone is expected to acquire a 67% stake in Ghana's state-owned Ghana Telecom for $960m.

Ghana communications minister Benjamin Aggrey Ntim confirmed that Vodafone has been negotiating with the government for several months and is the only bidder left in the fray to take over GT. The government has been trying to sell a two-thirds stake in the company since its announcement last year of GT's privatization.

GT is the third biggest player in the Ghana telecoms market with a 15.5% share after MTN (53%) and Tigo (28.6%).

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