Vodafone completes USD 900m acquisition of Ghana Telecom

Vodafone today announced that it has completed the acquisition of a 70 percent stake in Ghana
Telecommunications Company Limited (“Ghana Telecom”) for a total of US Dollar 900 million (Pound Sterling 483 million) on a debt-free, cash-free basis.

The deal values Ghana Telecom, which posted 2007 earnings before interest, taxes, depreciation and amortization of $42 million on sales of $290 million, at about $1.3 billion.

The number of mobile subscribers in Ghana is growing at more than 55 percent a year and mobile penetration is around 35 percent.

ITNewsAfrica.com