NCA confirms approval of transfer of majority share from Vodafone Group Plc to Telecel Group

The National Communications Authority (NCA) has confirmed the final approval for the transfer of 70 per cent majority shares in Vodafone Ghana held by Vodafone Group Plc to the Telecel Group.

The final approval follows satisfaction of conditions outlined in the conditional approval of the shares transfer, including the agreement of the Government, who remains the 30 per cent minority shareholder.

A statement issued by the Authority said it would be recalled that the NCA had announced on January 16, 2023, that pursuant to the evaluation of the revised proposal from the Telecel Group, it had granted conditional approval for the transfer of the 70 per cent majority shares in Vodafone Ghana held by Vodafone Group Plc (the Seller) to Telecel Group (the Buyer) subject to concessions made by the Seller and representations made by the Buyer to the NCA.

It said the Authority would continue to guide the takeover process in accordance with the existing license conditions of Vodafone Ghana, while ensuring that the interests of consumers were held paramount.

The statement assured the public that due process would be followed in the interest of all parties.

Source: GNA