My Naija News - As Globacom moves into Ghana, Vodafone buys Ghana Telecom in $900m deal

You are here: Home

As Globacom moves into Ghana, Vodafone buys Ghana Telecom in $900m deal

Written by Shina Badaru (Technology Times)

Friday, 04 July 2008

Source: TechnologyTimesNG.com
Lagos. July 4, 2008. World’s biggest mobile phone company, Vodafone of UK says it has reached a $900 million deal with the Ghanaian government to acquire 70 per cent of Ghana Telecommunications Company Limited (Ghana Telecom) in yet another major telecoms transaction trailing last month’s offer of the country’s sixth mobile licence to Nigeria’s second national operator, Globacom Limited.

As companies make a bullish run for the West African nation, with the acquisition by wholly-owned subsidiary, Vodafone International Holdings B.V., the UK operator makes a strategic entry into Ghana on the platform of the country’s leading fixed line service provider, Ghana Telecom that also owns number three mobile operator, One Touch.

It also reached a deal with the Ghanaian government, which retains the remaining 30 per cent of Ghana Telecom, to have the nation’s optical fibre network transferred to the latter. Both parties are hoping that the deal will be concluded by end of third quarter of the year when it sails through the country’s Parliament, the company said yesterday in a statement.

Outgoing CEO, Vodafone, Arun Sarin says “Ghana is one of the most attractive markets in Africa with mobile subscribers growing at more than 55 per cent p.a. and mobile penetration around 35 per cent. Our extensive operating experience together with our portfolio of products and services position us well to deliver a superior mobile experience to Ghanaian customers and significantly improve financial performance. I expect that our investment will generate substantial benefits for Vodafone and for the Ghanaian economy and we are delighted that we will be working in partnership with the Government of Ghana.”

The full story at TechnologyTimesNG.com

Quote this article on your site | Views: 599 | Print | E-mail

Comments (3)

	1. Written by This e-mail address is being protected from spam bots, you need JavaScript enabled to view it on 24-07-2008 11:27 - Guest
	Mr. I wish to be contacted when Vodafone advertises jobs in Nigeria and Ghana

	2. Written by This e-mail address is being protected from spam bots, you need JavaScript enabled to view it on 08-08-2008 22:31 - Guest
	looking for job as setellite worker Good Everning to you and I'm boy of 25 years of age.Who has been complted his education at prempeh collge and am proud of you if you can acceted me at your stuff memeber's,I hope to hear from you soon and please this is my number.00233 244 022283

	3. Written by This e-mail address is being protected from spam bots, you need JavaScript enabled to view it on 02-09-2008 09:29 - Guest
	Mr. Please stop sending this message to me

Write Comment

Please keep the topic of messages relevant to the subject of the article. Personal verbal attacks will be deleted. Please don't use comments to plug your web site. Such material will be removed. Just ensure to Refresh your browser for a new security code to be displayed prior to clicking on the 'Send' button. Keep in mind that the above process only applies if you simply entered the wrong security code.
Name:
E-mail
Title:
Comment:
Code:*
	I wish to be contacted by email regarding additional comments

Last Updated ( Friday, 04 July 2008 )

< Prev		Next >

[ Back ]