8/18/2008 10:03:00 AM
Vodafone completes Ghana Telecom takeover
Vodafone has completed the 70% acquisition of Ghana Telecom, after the Ghanaian Parliament approved the takeover last Thursday. The takeover was delayed after the country’s opposition party, National Democratic Congress claimed it would go against national interests.
Vodafone paid £483 million on a debt free, cash free bases for the Ghanaian operator.
Ghana Telecom is the third largest mobile operator in the country, with 1.4 million customers and a market share of 17%.