Vodafone agrees to sell stake in Ghana operations to Telecel
Vodafone Plc, parent company of Vodafone Ghana, has agreed to sell its operations in Ghana to the Telecel Group, as the British telecommunications giant looks to refocus on key markets.
The Telecel group plans to offload the Ghana business mobile tower to help fund the acquisition.
Vodafone officially entered the Ghana market in 2008 with the Government of Ghana holding a 30% stake in the business while the company retain 70%.
Nick Read, Vodafone’s chief executive officer, has been focusing the group on Europe and Africa as he streamlines a sprawling operation that once extended from its Newbury, England headquarters all the way to New Zealand.
Source: bloomberg
Via: norvanreports
