TELEKOM MALAYSIA WANTS US$90M-$100M FOR ITS GHANA TELECOM SHARE
The Ghanaian Government’s difficulties with Ghana Telecom are not about to get any easier. According to the Malaysian newspaper New Straits Times Telekom Malaysia Bhd. (P.TEL) wants US$90 million to $100 million for its 30% stake in Ghana Telecom. Where does this leave its investment plans in the new company now being managed on its behalf by Telenor?
Not surprisingly, valuers appointed by Ghana’s government, which owns the other 70% of Ghana Telecom, are believed to favor a lower price for the stake, the paper says. Government-controlled Telekom Malaysia is trying to sell its Ghana Telecom stake, probably back to the Ghana government, after its management contract was not renewed last year.
Telekom Malaysia is also seeking the return of US$50 million deposited as half payment for an additional 15% stake in Ghana Telecom in 2000 and US$8 million as interest on the deposit, the paper says.