New administration to review Vodafone deal

28 Apr 2009

According to unconfirmed media reports from Accra, the new administration in Ghana is to conduct a review into the sale of a 70% stake in the national PTO Ghana Telecom to UK giant Vodafone Group. The government, which originally opposed the sale, has set up a five-member committee to review the sale process according to local reports citing the Minister of Communications, Mr Haruna Iddrisu, as saying. The committee will look to see if the deal was fair and transparent, investigating matters such as the contentious ‘indemnity clause’ in the sale agreement which protected individuals involved in the deal from future prosecution if it was later found there were better offers on the table that were passed over by the administration. The latest development is a blow to Vodafone which re-launched the PTO under the Vodafone banner earlier this month.

Ghana, Vodafone Ghana, Vodafone Group