Government to acquire 25% shares in AirtelTigo

Government to acquire 25% shares in AirtelTigo

- The government is currently making plans to acquire 25% shares in AirtelTigo

- The Minister of Communications, Ursula Owusu Ekuful has disclosed that the government has two years to finalize its decision.

- According to her, this is an opportunity to ensure that the local telecom sector is boosted.

Click here for the latest news in Ghana

Government to acquire 25% shares in AirtelTigo

READ ALSO: Bill for integrated aluminum, bauxite development authority ready soon - Bawumia

The Minister of Communications, Hon. Ursula Owusu has hinted that the government to taking a decision to acquire 25 per cent shares in newly merged communication network, AirtelTigo.

She said in an interview on Starr FM that the government is entitled to those shares.

Therefore it would use a period of two years to decide how it intends to acquire the 25 per cent shares, she said.

According to her, as part of the conditions of the merger between the two telecom companies Airtel and Tigo, the government has a default opportunity to acquire up to that percentage of shares.

READ ALSO: KABA family expresses appreciation to donors for plenty donations

This move is to encourage local participation in the telecom industry, the Communications Minister disclosed.

She also said the move will ensure that Ghana obtains profit from the business activities of the newly merged communication entity.

Hon. Ursula Owusu Ekuful further stated that the government has two years to decide which instrument to evoke in the obtaining the 25 per cent shares in AirtelTigo.

The National Communication Authority (NCA) in October gave the green light for the merger between Airtel and Tigo.

The newly formed AitelTigo becomes the second largest mobile network operator in Ghana.

Have some national and human interest issues to discuss? Reach YEN via our Facebook page

Source: Yen.com.gh

Related news
Ebony looks all cheerful in a latest photo with manager Bullet

Ebony looks all cheerful in a latest photo with manager Bullet

This latest photo of Ebony and Bullet proves the relationship between them is ‘deep’
YEN.com.gh
Mailfire view pixel