MALAYSIA TELKOM INJUNCTION TARGETS GHANA TELECOM EXPANSION LOAN

Telecoms

Telkom Malaysia have filed an injunction at the High Court, seeking the court to prevent GT from accessing a USD210 million loan to secure equipment to undertake an expansion program in the country. Sensitive to coverage in on Ghana Web, its General Manager - Corporate Communications Manager sought to clarify things in a letter sent to the web site:"This is certainly a gross misrepresentation. This rejoinder therefore seeks to set the records straight for the benefit of readers and particularly stakeholders in GT. As was rightly stated in the first paragraph of the news story in question, Telekom Malaysia has FILED AN INJUNCTION restraining Ghana Telecom from accessing a USD 150 million Alcatel Shanghai Bell facility as well as a USD 60 million local syndicated loan needed to undertake an expansion programme which would transform the telecom landscape in Ghana". It will be interesting to see whether the injunction stays in place or is lifted and when this happens.