Bloomberg News

Ghana Court Hears Vodafone Deal Was Not Negotiated, Times Says

July 06, 2012

A commercial court heard yesterday that Ghana in 2008 accepted Vodafone Group Plc (VOD)’s offer to buy 70 percent of Ghana Telecommunications Co. without negotiating the deal, the Ghanaian Times reported.

Witness Issah Yahaya, a former director of the Communications Ministry, told the court that senior government officials approved the offer by the U.K.-based company within a day, the Accra-based newspaper said.

A government-commissioned probe said in 2009 that some of Ghana Telecommunications Co.’s assets had been “grossly undervalued”. The court case was initiated by six plaintiffs who argue that the government’s decision to transfer assets, shares and equipment to Vodafone was against the public interest and constituted an abuse of power, according to the newspaper.

Samuel Ablakwa, the country’s deputy information minister, didn’t answer calls made to his mobile phone.

To contact the reporter on this story: Pauline Bax in Accra at pbax@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net


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