Celtel completes WESTEL privatisation

15 Sep 2008

Celtel International has formally completed the payment of USD115 million to the government of Ghana to complete the part-privatisation of the country’s second operator Western Telesystems Limited (WESTEL). In a press statement today, the Ministry of Information and National Orientation said the receipt of Celtel’s payment represented the transaction payment of its 66.67% shareholding in WESTEL and thus concluded the Sales and Purchase Agreement (SPA). This leaves a balance of USD5 million which will be paid subject to the completion of due diligence, it said.

Ghana, AirtelTigo, Celtel International