The minority in the Ghanian Parliament has questioned the supposed confidentiality,lack of openness and lack of transparency with which government is conducting negotiations regarding the privatisation and sale of majority shares in Ghana Telecom, GT, between the government of Ghana and V odafone of United Kingdom, uk.
The minority also frowned at government’s decision to contravene requirements it placed in the advertisement for the sale of GT, by adjusting the shares on offer from 66.7 per cent to 70 per cent and also negotiating exclusively with only Vodafone without considering other biders, who were likely to offer higher bids than the former.
Haruna Iddrish, the minority ranking member on communications, stated that Vodafone’s offer of $960 million with stringent caveats is far below the minority’s expectation of $ 1.5 billion or more for the value of GT, which is subject to GT’s own internal valuation and audits, to be conducted during its due dilligence process.
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