Ghana Regulator Denies Blocking Vodafone Sale To Telecel

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Ghana Regulator Denies Blocking Vodafone Sale To Telecel
Ghana Regulator Denies Blocking Vodafone Sale To Telecel

The Ghanaian National Communications Authority (NCA) has denied media reports claiming it blocked Vodafone’s proposed sale of its Ghana unit to rival Telecel Group, however it has not approved the transaction either.

The European operator confirmed earlier this week intended to sell off its 70% share in its unit which was originally acquired from the state in 2006 for US$900 million.

The regulator said in a press release it @wishes to state and clarify that the statement is false and should be disregarded as such.

The NCA revealed that it received an application for the transfer of 70% majority shares in Vodafone Ghana to Telecel in January this year, but it did not meet the standards required for approval, reported Comms Update.

“After critical regulatory review and evaluation, the NCA concluded that the request did not meet the regulatory threshold for approval to be granted,” the NCA said in the statement but did not reveal what criteria Vodafone needed to hit.

Vodafone declined to comment when Developing Telecoms reached out for comment.