Business Maverick: Ghana approves sale of Vodafone unit to French tycoon’s Telecel

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Ghana has given Telecel Group, headed by French tycoon Hugues Mulliez, approval to buy Vodafone Group Plc’s operations in the West African country.

The National Communications Authority granted approval to transfer Vodafone’s 70% stake in Ghana Telecommunications Co, the agency said in a statement on Monday, aboutTelecel is using the stake as part of an

expansion drive into this part of Africa, and could potentially provide much-needed investment in the country. Ghana, which lost access to the international capital markets due to its ballooning debt and loan-service costs,

 

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