According to the communications minister, Ursula Owusu-Ekuful, Vodafone’s choice of Telecel is “surprising.” “We were concerned that they [Telecel Group] were a very small operator and didn’t have the technical and financial muscle to be able to take on the challenging environment that we have in the telecom sector here in Ghana,” Owusu-Ekuful said on Accra-based Asaase Radio.
Like Vodafone, Telecel Group isn’t particularly pleased with the turn of events and wishes to return to the negotiation table to push for the $500m cash deal.
With its presence in over 30 countries in Africa, offering different telecom services, Telecel’s expansion on the continent has largely been through acquisitions. The company says it is committing $700m over the next three years to drive growth and develop fibre optic infrastructure. Most recently, the group completed a transaction to acquire Tunisia
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