PT still eyeing Ghana Telecom

Portugal Telecom (PT) is still interested in a possible acquisition of Ghana Telecom, despite press reports that Vodafone is close to a deal with the Ghanaian government to take a majority stake in the operator, company sources said last week.

A PT source told the Lusa News Agency: “We always said the day the Ghanaian government reopened the privatization process, we would be interested in reanalyzing the opportunity. But I confirm we were not contacted once it was decided to suspend the process at the beginning of the year.”

The same PT source declined to comment on a report last week in Ghanaian newspaper Daily Guide that the Portuguese operator, along with France Telecom (FT), two contenders in the privatisation of Ghana Telecom at the close of 2007, have been sidelined by Vodafone’s bid.

Vodafone has reached a deal with the Ghana government to take a 66.7 percent stake in the incumbent operator for US$ 960 million, Daily Guide said.

The Accra authorities are seeking a strategic investor in Ghana Telecom to develop the country’s telecoms sector. Among the prerequisites for potential investors are more than a million fixed subscribers and six mobile clients - conditions met by Vodafone, PT and FT.

Ghana Telecom presently has 400,000 fixed and mobile clients in a politically stable and economically vibrant country of around 23 million people.