Telecel to re-engage government over Vodafone Ghana takeover

Telecel Group has indicated that it will re-engage the government of Ghana concerning the takeover of Vodafone.

This is coming after the National Communication Authority (NCA) rejected an earlier request to take over the British telecommunication company.

A statement released by Telecel said it had signed a Sale and Purchase Agreement (SPA) with Vodafone to acquire a 70% per cent stake in Vodafone Ghana. The agreement is currently pending regulatory approval.

Telecel said they had received responses that did not grant the approvals, and they were willing to re-engage soon after making the necessary clarifications.

“The acquisition is fully financed by Telecel Group and its partners. Telecel confirms that the potential sale of Vodafone Ghana Towers is not part of the acquisition funding.

“Telecel hopes to successfully conclude this transaction and looks forward to engaging with staff and customers, who are important to the business.

“Telecel’s business model is unique, which focuses its strengths on overcoming challenges through disruptive innovation. Ghana’s business climate suits the business models of Telecel Group and was the key enabling factor based on which the Group was able to reach an agreement with Vodafone,” the statement said.

Telecel Group has already invested in Ghana as part of the Africa Startup Initiative Programme “ASIP”, and it intends to spend close to 500 million USD in the first three years to expand and refinance Vodafone’s network across the country.

According to them, together with Vodafone, they have been in touch with Ghana’s Ministry of Communications, Bank of Ghana (BoG), and the National Communications Authority (NCA), to finalize all the regulatory requirements related to the transaction.

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