M&A

3 November, 2009

Ghana says will not abrogate Vodafone deal

ACCRA, Nov 3 (Reuters) - Ghana has no intention of abrogating Vodafone Group Plc's (VOD.L) $900 million purchase of a 70-percent stake in Ghana Telecommunications (GT), the government said on Tuesday after a review of the deal.

"Government ... has no intention of abrogating the SPA (Sale and Purchase Agreement)," it said, two weeks after a government committee ruled the agreement was illegal in a move that unsettled potential investors in one of West Africa's most developed economies. (Reporting by Kwasi Kpodo; Writing by Mark John; Editing by Phil Berlowitz)

Source: http://www.reuters.com