MERGERS, ACQUISITIONS AND FINANCIAL RESULTS

Vodafone to invest US$700m in telecom infrastructure in Ghana

The Britain-based Vodafone Group PLC is to invest US$700 million in the development of telecommunication infrastructure in Ghana to improve on its network services, Sir John Bond, Chairman of the Company has announced.

The proposed investment formed part of discussions at a meeting with a Ghana government delegation, led by President John Evans Atta Mills during his three-day official visit to London, at the invitation of the British Government, which ended on Friday.

Sir John Bond told journalists that the meeting with the President was very constructive. He said Vodafone had expected the Mills’ Administration to go to court over the sale and purchase agreement of Ghana Telecom, signed last year with the previous administration.

He indicated however, that President Mills had said Government was willing to resort to non-legal means, sit and discuss the agreement and find a way that would be pleasing to both sides. Sir John Bond said the meeting also discussed the transfer of the Ghana Telecom University. He however, said one of the main challenges of the company was finding sites to develop as base stations to extend its services.

According to the Chairman the company welcomed the stance of Government for transparency in the deal and operations of the company.

GNA

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