Sunday, June 29, 2008

Minority Seeks Clarification in GT Sale

Mr Iddrisu Haruna, Ranking Member of Communications in parliament, on Sunday requested Vodafone P.L.C, U.K. to confirm and clarify its position in the transaction with the government of Ghana to divest Ghana Telecom (GT) to it.In a signed letter dated June 27 to Vadafone and copied to Ghana News Agency, Mr Haruna, who is also the MP for Tamale South said, "Officials of the Government of Ghana have recently named Vodafone P.L.C., U.K. as a party to the on-going negotiations to acquire a significant majority of Ghana Telecom shares.

"He said, "I am writing to you to: Confirm the position of Vodafone U.K. in the transaction to divest Ghana Telecom and to seek clarification from you on the interest of Vodafone, U.K. in the divestiture of the Ghana Telecom."Mr Haruna said, "Any additional information that you may be inclined to share with us concerning the structure, execution and processing of this divestiture transaction between the Government of Ghana (acting on behalf of the Ghana Telecom), and Vodafone PLC U.K. will be greatly appreciated."Dr. Anthony Osei Akoto last week during a press interaction noted that, the privatization of GT was to end next week, and that the completion would help enhance divestiture receipts to close the gap that had been created by the relief measures announced by President John Agyekum Kufuor last month.He said a prospective company had been found to take over GT from the beginning of next month and that "It wasn't true that investors were shying away because of the bidding price".

Mr Benjamin Ntim, Minister of Communications had told Parliament last week that negotiations for the process to privatise the Ghana Telecommunication Company (GT) were to close by the end of June 2008. Answering questions on the floor of the House, Mr Ntim said government owned 100 percent shares in the company, but the shares would be floated on the Ghana Stock Exchange, when privatized.The Government of Ghana in 2006 took a decision to privatize GT and Westel, a sister telecommunication company, within a two-year period through the sale of its shares in the two companies.

Source: GNA
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