Parliament stops Ghana phone deal

Sudan News.Net
Friday 18th July, 2008

Ghana’s parliamentary opposition has blocked the sale of a majority stake in state-owned Ghana Telecom to Britain's Vodafone.

Vodafone and the Ghanaian government will now have to re-assess their deal, even though Ghana’s Communications Minister has said there is nothing wrong with the agreement.

The government's announcement that a 70-percent stake in Ghana Telecom was to be sold to the British firm provoked strong opposition.

Opposition politicians said the failed deal, which valued Ghana Telecom at US$1.3 billion was not in the national interest.

Vodafone had agreed to pay 900 million dollars for the 70-percent stake, but the opposition party said the shares were worth more.

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