Sunday, October 2, 2022
HomeNewsAfricaTelecel faces double hurdle in planned Vodafone Ghana acquisition deal

Telecel faces double hurdle in planned Vodafone Ghana acquisition deal

Following a failed attempt to exit Ghana in 2021, Vodafone is again hoping to offload its assets in the West African country, having agreed on terms with Telecel Group. However, Ghana’s regulator, the National Communications Authority, has turned down the companies’ request to seal the deal.

According to the communications minister, Ursula Owusu-Ekuful, Vodafone’s choice of Telecel is “surprising.” “We were concerned that they [Telecel Group] were a very small operator and didn’t have the technical and financial muscle to be able to take on the challenging environment that we have in the telecom sector here in Ghana,” Owusu-Ekuful said on Accra-based Asaase Radio.

Like Vodafone, Telecel Group isn’t particularly pleased with the turn of events and wishes to return to the negotiation table to push for the $500m cash deal.

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