Zain acquires majority stake in Westel

Celtel International the African unit of Zain, formerly

MTC Group, has announced that it is to acquire 75% of

Ghana’s second national operator Western Telesystems Ltd

(Westel) from the Ghanaian government for US$120

million. The government will remain a shareholder in

Westel with a 25% holding through the Ghana National

Petroleum Corporation. The deal, which remains subject

to regulatory approval, is expected to close in the near

future.