Vodafone to acquire majority stake in Ghana Telecommunications

Vodafone to acquire majority stake in Ghana Telecommunications

Mobile industry giant Vodafone has announced that they are going to acquire a 70-percent stake in Ghana Telecommunications.

The deal is worth around 900 million dollars.

The company said that they would purchase this stake from the government of Ghana. The government would continue to own rest of the stake in the company.

Vodafone added that they expect this deal to complete by the third quarter of the year.

The European company said: “Ghana is one of the most attractive markets in Africa with mobile subscribers growing at more than 55 percent per year and mobile penetration around 35 percent. 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.”