JGC calls off Expresso deal

13 Feb 2014

The discussions between Sudan-based Sudatel Telecom Group (STG) and Jospong Group Companies (JGC) regarding the sale of Ghanaian cellco Expresso (Kasapa Telecom) reportedly ground to a halt on 31 January 2014, local news agency AdomBusiness has reported. According to the article, El Amir Ahmed El Amir, managing director of Expresso, disclosed that the negotiations were called off, after JGC ‘lost interest in the deal and pulled out’. Unnamed sources also pointed out that a conflict of interest might be one of the reasons behind the move, as Subah Infosolutions Limited, which is a member of JGC, has recently been appointed by the Ghana Revenue Authority to perform an audit of the country’s telcos.

As previously reported by TeleGeography’s CommsUpdate, in March 2013 it was revealed that STG – which currently owns telecoms assets in Mauritania (Chinguitel), South Sudan (Sudatel South Sudan, Sudani), Ghana (Expresso), Guinea (Intercel Guinea, Expresso) and Senegal (Sudatel Senegal, Expresso) – was considering a widespread sale of its African businesses. Subsequently, in October STG initiated the sale of its stake in the Ghanaian company, with a number of companies expressing an interest in buying the mobile operator. In January 2014 reports in local media suggested that STG planned to sell its stake in the company to JGC, and that negotiations between the parties were at an advanced stage.

Ghana, Kasapa Telecoms (Expresso), Sudatel (Sudani)