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Article: Ghana: Ghana says will not abrogate Vodafone deal.

Article from:
TendersInfo
Article date:
November 5, 2009
Copyright

Byline: datta03

Ghana has no intention of abrogating Vodafone Group Plc's (VOD.L) $900 million purchase of a 70-percent stake in Ghana Telecommunications (GT), but will re-engage the company on some issues, the government said on Tuesday after a review of the deal.

The announcement comes two weeks after a government committee ruled the agreement illegal in a move that unsettled investors in one of Africa's most developed economies.

"Government ... has no intention of abrogating the SPA (sale and purchase agreement)," the government said in a release.

The deal by the British mobile phone company in August last year was harshly ...

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