Ghana's parliament approves Vodafone deal

Ghana's parliament has approved Vodafone's plans to acquire a 70% stake in Ghana Telecom. The takeover plans have been controversial, with some politicians criticising the government for agreeing the original deal. Vodafone is paying £483 million for the 70% share. [Sources: Reuters.com; The StatesmanOnline.com]

Problems with Vodafone's Ghana Telecom deal

The last few weeks have seen a number of Ghanaian politicians expressing unhappiness with Vodafone's plans to own a majority share in Ghana Telecom. The Ghana Broadcasting Corporation has a summary of the situation.

Vodafone buys 70% of Ghana Telecom

Vodafone has confirmed recent speculation that it's investing in Ghana Telecom. It's acquiring a 70% stake in Ghana Telecommunications Company Limited for a total of £452 million. The Government of Ghana will retain a 30% stake in the company. Customer growth in Ghana is currently over 55% per year, with only 35% of the population owning mobiles. [Source: Press release]