Business

NCA: Vodafone sale does not meet the regulatory threshold for approval

The Telecel Group is expected to purchase Vodafone Ghana’s operations from Vodafone Plc, Vodafone Ghana’s parent firm.

According to reports, the corporation is close to selling the British telecommunications giant its investment in Ghana so it can focuses on important countries.

As the company’s dominant shareholder, Vodafone acquired the government of Ghana’s remaining 30% ownership in 2008.

The Telecel group reportedly intends to sell the Ghanaian company mobile tower to raise money for the purchase.

As he simplifies a large organization that once stretched from its Newbury, England headquarters all the way to New Zealand, Vodafone’s CEO, Nick Read, has been concentrating the company on Europe and Africa.

The NCA, meanwhile, has denied media accusations that it was purposefully impeding the sale of Vodafone to Telecel and called the reports untrue.

According to a statement from the NCA, “the NCA received an application in January 2022 for the transfer of 70 percent of the outstanding shares of Ghana Telecommunications Company Limited (Vodafone Ghana) from Vodafone International Holdings B.V. to the Telecel Group.”

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