Vodacom to up bid for GT

8 Jan 2008

According to unconfirmed reports from the Ghanaian Chronicle, Vodacom Group of South Africa is preparing to increase its bid offer for a controlling stake of at least 51% in Ghana’s national PTO Ghana Telecom (GT). The move comes after the government rejected all of the bids it received for the privatisation of the telco, including offers from Portugal Telecom and France Telecom. Sources familiar with the situation say Vodacom’s new offer is expected to be in excess of USD500 million. Ecobank Development Corporation (EDC) and Societe Generale are the transactional advisors for Ghana for the privatisation.

Ghana, Vodacom Group, Vodafone Ghana