Home / News / NCA approves sale of Vodafone Ghana to Telecel

NCA approves sale of Vodafone Ghana to Telecel

 

The National Communications Authority (NCA) has granted a conditional approval for the transfer of the 70 per cent majority shares in Vodafone Ghana to Telecel Group.

This is subject to concessions made by Vodafone and representations made by Telecel to the NCA.

It is still pursuant to the evaluation of the revised proposal from the Telecel Group.

A notice posted on the regulator’s website today (January 16), said “it would be recalled that in January 2022, the NCA received an application from Vodafone Ghana for the transfer of 70 per cent of its majority shares held by the Seller to the Buyer.

See also  Defeated NPP National aspirant Dr. Yusif Tedam accused of fraud by GIJ Lecturer after dud cheque

It said in accordance with due process, the NCA evaluated the application on various criteria and engaged both Vodafone Ghana and Telecel.

“The NCA concluded that the request did not meet the regulatory threshold for approval to be granted.

“Following the NCA’s decision, the Buyer resubmitted a revised financial and technical proposal in December 2022 which demonstrated the needed capital investment to extend the deployment of 4G and launch innovative Fintech solutions,” the notice said.

It said the NCA found that the revised proposal provided more clarity and certainty in terms of the funding required for the acquisition and the commitments from both the Seller and Buyer.

In addition, the Buyer had strengthened the overall governance and management team and made firm commitments towards meeting the regulatory requirements of the NCA.

See also  Farouk Aliu Mahama gives account of his 2-year stewardship as MP for Yendi

“Based on the above, the NCA confirms that the revised proposal from the Buyer now meets the regulatory threshold and hence has granted a conditional approval for the transfer of shares to the Buyer including submission of strategies for employee retention.

“The NCA would like to assure the general public and all stakeholders that it would continue to work with Vodafone Ghana and the Buyer to complete all outstanding regulatory requirements to ensure a smooth transition as well as continuity of service delivery and improved choice for consumers and competition within the industry,” it added.

See also  BREAKING NEWS: 5 SHOT, CHIEFS AND RESIDENTS RUN INTO THE BUSH AFTER ANGRY FRAUD BOYS ATTACK IN CENTRAL REGION [WATCH VIDEOS]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: Graphic

About admin

Check Also

Reusable water bottles contain more bacteria than toilet seats do, says study

  Research reveals exponential amount of germs present in reusable bottles. Making the sustainable decision …

Leave a Reply

Your email address will not be published. Required fields are marked *