Ghana defuses row over telecom deal

By Incorrect Author 5 November 2009

Ghana has moved to defuse a row over Vodafone’s $900m purchase of a 70% stake in Ghana Telecom, in spite of a government report claiming the state didn’t get proper value for the $267 million it received. Britain’s Serious Fraud Office is looking into the matter, while Vodafone said the deal was conducted to the highest standards of corporate governance. Ghana now says it won’t revoke the sale, concluded under the country’s previous government, despite the report saying it was unconstitutional and illegal. Ghana's parliament ratified the deal, so a court case brought by one of the country’s civil society groups looks like it could be long and drawn out. Read more: BBC, Bloomberg


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