The National Communications Authority (NCA) says it has given its approval for the transfer of the majority of shares (70%) of Vodafone Ghana to the Telecel group.
In a statement issued on Monday, January 16, the Authority explained that this is conditional on the Telecel group making certain concessions and declarations to the NCA.
Vodafone Ghana submitted an application to the NCA in January 2017 to have its parent company, Vodafone Group Plc, sell 70% of its shares to Telecel.
According to the Authority’s assessment, “both Vodafone Ghana and Telecel group were involved in the process as part of the proper research required of the application.”
As a result, the NCA determined that the request did not fulfill the regulatory requirements necessary to be approved.
After the decision was made, Vodafone International Holdings B.V. filed a new financial and technical proposal in December 2022, showing that it was prepared to spend on expanding 4G coverage and introducing cutting-edge Fintech services.
After reviewing the updated plan, the NCA concluded that the seller and buyer’s commitments, as well as the finance requirements for the acquisition, were more transparent and certain.
Read the full statement below
Source – Tru News Report
