The National Communications Authority (NCA) has okayed 70% majority shares in Vodafone Ghana held by Vodafone Group Plc to the Telecel Group.
In a statement sighted by Theannouncergh.com and issued to NCA on Tuesday (21 February) - the decision for the takeover follows the satisfaction of conditions outlined in the conditional approval of the transfer of the shares.
“The National Communications Authority wishes to confirm that it has given final approval for the transfer of the 70% majority shares in Vodafone Ghana (Ghana Telecommunications Company Limited – GTCL) held by Vodafone Group Plc to the Telecel Group.
“The final approval follows the satisfaction of conditions outlined in the conditional approval of the transfer of the shares, including the agreement of the Government of Ghana, who remains the 30% minority shareholder,” portion of the statement read.
Adding that, “It will be recalled that the NCA had announced on January 16, 2023, that pursuant to the evaluation of the revised proposal from the Telecel Group, it had granted conditional approval for the transfer of the 70% majority shares in Vodafone Ghana held by Vodafone Group Plc (the Seller) to Telecel Group (the Buyer) subject to concessions made by the Seller and representations made by the Buyer to the NCA.”
NCA also gave assurance that due process will be followed in the interest of all stakeholders.
“The authority will continue to guide the takeover process in accordance with the existing license conditions of Vodafone Ghana while ensuring that the interests of consumers are held paramount. The NCA further assures the public that due process will be followed in the interest of all parties,” the statement said.
