GT sale suspended due to low bids

20 Feb 2008

The proposed sale of a 66% government stake in Ghana’s national fixed line operator Ghana Telecom (GT) has been suspended due to the lack of interest and low bids by potential suitors. GT’s head of Corporate Communication and Customer Care, Major Albert B. Don-Chebe, claimed that France Telecom had offered USD520 million for the firm, but this was considered too low. Other bids have been received from the likes of Portugal Telecom he said, but all were below the figure the Ghanaian government had in mind for the stake. Don-Chebe said however, the state was ready to re-open the process to any bidder willing to satisfy the minimum requirements of the tender.

Ghana, Vodafone Ghana