Trial opens to consider Ghana Telecom sale
According to an unconfirmed report from online news journal Citi FM, a commercial court in Accra will today launch a trial concerning a lawsuit filed opposing the sale of a majority stake in national PTO Vodafone Ghana – then known as Ghana Telecom (GT) – to UK-based Vodafone Group.
The portal writes that the courts have deliberated on the action for more than a year to determine whether or not it has jurisdiction to hear the case, filed by Professor Agyeman Badu Akosah and six others. The plaintiffs are seeking a legal cancellation of the sale of the government’s 70% stake in GT to the UK giant in 2008.
On 3 July 2008 Vodafone agreed a deal to acquire a 70% stake in the PTO from the government for USD900 million and the sale was completed the following month. The state retains a 30% interest. The firm was rebranded Vodafone Ghana in April 2009.