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Ghana: Vodacom to Up Offer for GT Print E-mail
Tuesday, 08 January 2008

After the government of Ghana rejected all bids for a controlling stake in Ghana Telecom (GT), Vodacom is reportedly preparing a new offer. Vodacom’s offer is expected to be over US$ 500 million.

GT was due to have been privatized at the end of 2007. Vodacom, Portugal Telecom and France Telecom all made offers for GT that were rejected by the government. Other interested parties in the 2007 auction included Singapore Telecom. In that auction, none of the twenty or so potential investors expressing interest were willing to pay over US$ 500 million for the stake in GT.

Vodacom is an African GSM mobile operator serving South Africa, Tanzania, Lesotho, Mozambique and DR Congo. Vodacom is the market leader in South Africa.

Ecobank Development Corporation (EDC) and Societe Generale are Ghana’s transactional advisors for the privatization.

Source: Ghanaian Chronicle - WDR/Intelecon Regulatory News.