Ghana Telecom to be listed on GSE
By Fred SARPONG
The Government, through the Ministry of Communications, is seeking support from the Ghana Stock Exchange (GSE) to list 30% of Ghana Telecom (GT), operators of the state-owned fixed line and mobile networks on the stock market. It is anticipated that an Initial Public Offer will be made before the end of this year.
In 2005, the Government of Ghana concluded a settlement of agreement with Telekom Malaysia and re-purchased the 30 per cent shares the Malaysian investor had bought in 1997 during the partial privatization of GT.
Ghana Telecom is now owned by the Government of Ghana again. In order to allow the public to be part of the ownership of GT however, the government now plans to float 30 percent of GT’s shares on the stock market.
This is also to allow the government raise money to finance its own ambitious spending programmes.
BusinessWeek has learnt that all necessary documentation is being put for the Initial Public Offer (IPO).
Also, the government intends to sell 51 percent of the shares to a strategic investor while the remaining 19 percent will be retained by the government.
The latest plan is aimed at changing the face of the state-owned telecommunication firm after Telenor Management (TM) failed to achieve the target agreed on with government in terms of new line roll-out.
Last February, the government asked the State Enterprises Commission (SEC) to evaluate the performance of TM following last December expiration of its management contract with GT.
The evaluation performance was as a result the TM being unable to roll-out 750,000 mobile lines and also to put out 400,000 fixed lines by the end of 2005 as the contract demanded.
BusinessWeek gathered that these targets were not achieved as a result of conflicts between the then minority shareholders, Telekom Malaysia and the Government of Ghana over a loan contracted from Alcatel Shangai Bell of China.
BusinessWeek has been informed that the ministry is studying the evaluation report and will soon come out with the necessary recommendation.
Ghana Telecom to be listed on GSE
By Fred SARPONG
The Government, through the Ministry of Communications, is seeking support from the Ghana Stock Exchange (GSE) to list 30% of Ghana Telecom (GT), operators of the state-owned fixed line and mobile networks on the stock market. It is anticipated that an Initial Public Offer will be made before the end of this year.
In 2005, the Government of Ghana concluded a settlement of agreement with Telekom Malaysia and re-purchased the 30 per cent shares the Malaysian investor had bought in 1997 during the partial privatization of GT.
Ghana Telecom is now owned by the Government of Ghana again. In order to allow the public to be part of the ownership of GT however, the government now plans to float 30 percent of GT’s shares on the stock market.
This is also to allow the government raise money to finance its own ambitious spending programmes.
BusinessWeek has learnt that all necessary documentation is being put for the Initial Public Offer (IPO).
Also, the government intends to sell 51 percent of the shares to a strategic investor while the remaining 19 percent will be retained by the government.
The latest plan is aimed at changing the face of the state-owned telecommunication firm after Telenor Management (TM) failed to achieve the target agreed on with government in terms of new line roll-out.
Last February, the government asked the State Enterprises Commission (SEC) to evaluate the performance of TM following last December expiration of its management contract with GT.
The evaluation performance was as a result the TM being unable to roll-out 750,000 mobile lines and also to put out 400,000 fixed lines by the end of 2005 as the contract demanded.
BusinessWeek gathered that these targets were not achieved as a result of conflicts between the then minority shareholders, Telekom Malaysia and the Government of Ghana over a loan contracted from Alcatel Shangai Bell of China.
BusinessWeek has been informed that the ministry is studying the evaluation report and will soon come out with the necessary recommendation.
Ghana Telecom to be listed on GSE
By Fred SARPONG
The Government, through the Ministry of Communications, is seeking support from the Ghana Stock Exchange (GSE) to list 30% of Ghana Telecom (GT), operators of the state-owned fixed line and mobile networks on the stock market. It is anticipated that an Initial Public Offer will be made before the end of this year.
In 2005, the Government of Ghana concluded a settlement of agreement with Telekom Malaysia and re-purchased the 30 per cent shares the Malaysian investor had bought in 1997 during the partial privatization of GT.
Ghana Telecom is now owned by the Government of Ghana again. In order to allow the public to be part of the ownership of GT however, the government now plans to float 30 percent of GT’s shares on the stock market.
This is also to allow the government raise money to finance its own ambitious spending programmes.
BusinessWeek has learnt that all necessary documentation is being put for the Initial Public Offer (IPO).
Also, the government intends to sell 51 percent of the shares to a strategic investor while the remaining 19 percent will be retained by the government.
The latest plan is aimed at changing the face of the state-owned telecommunication firm after Telenor Management (TM) failed to achieve the target agreed on with government in terms of new line roll-out.
Last February, the government asked the State Enterprises Commission (SEC) to evaluate the performance of TM following last December expiration of its management contract with GT.
The evaluation performance was as a result the TM being unable to roll-out 750,000 mobile lines and also to put out 400,000 fixed lines by the end of 2005 as the contract demanded.
BusinessWeek gathered that these targets were not achieved as a result of conflicts between the then minority shareholders, Telekom Malaysia and the Government of Ghana over a loan contracted from Alcatel Shangai Bell of China.
BusinessWeek has been informed that the ministry is studying the evaluation report and will soon come out with the necessary recommendation.Ghana Telecom to be listed on GSE
By Fred SARPONG
The Government, through the Ministry of Communications, is seeking support from the Ghana Stock Exchange (GSE) to list 30% of Ghana Telecom (GT), operators of the state-owned fixed line and mobile networks on the stock market. It is anticipated that an Initial Public Offer will be made before the end of this year.
In 2005, the Government of Ghana concluded a settlement of agreement with Telekom Malaysia and re-purchased the 30 per cent shares the Malaysian investor had bought in 1997 during the partial privatization of GT.
Ghana Telecom is now owned by the Government of Ghana again. In order to allow the public to be part of the ownership of GT however, the government now plans to float 30 percent of GT’s shares on the stock market.
This is also to allow the government raise money to finance its own ambitious spending programmes.
BusinessWeek has learnt that all necessary documentation is being put for the Initial Public Offer (IPO).
Also, the government intends to sell 51 percent of the shares to a strategic investor while the remaining 19 percent will be retained by the government.
The latest plan is aimed at changing the face of the state-owned telecommunication firm after Telenor Management (TM) failed to achieve the target agreed on with government in terms of new line roll-out.
Last February, the government asked the State Enterprises Commission (SEC) to evaluate the performance of TM following last December expiration of its management contract with GT.
The evaluation performance was as a result the TM being unable to roll-out 750,000 mobile lines and also to put out 400,000 fixed lines by the end of 2005 as the contract demanded.
BusinessWeek gathered that these targets were not achieved as a result of conflicts between the then minority shareholders, Telekom Malaysia and the Government of Ghana over a loan contracted from Alcatel Shangai Bell of China.
BusinessWeek has been informed that the ministry is studying the evaluation report and will soon come out with the necessary recommendation.
Ghana Telecom to be listed on GSE
By Fred SARPONG
The Government, through the Ministry of Communications, is seeking support from the Ghana Stock Exchange (GSE) to list 30% of Ghana Telecom (GT), operators of the state-owned fixed line and mobile networks on the stock market. It is anticipated that an Initial Public Offer will be made before the end of this year.
In 2005, the Government of Ghana concluded a settlement of agreement with Telekom Malaysia and re-purchased the 30 per cent shares the Malaysian investor had bought in 1997 during the partial privatization of GT.
Ghana Telecom is now owned by the Government of Ghana again. In order to allow the public to be part of the ownership of GT however, the government now plans to float 30 percent of GT’s shares on the stock market.
This is also to allow the government raise money to finance its own ambitious spending programmes.
BusinessWeek has learnt that all necessary documentation is being put for the Initial Public Offer (IPO).
Also, the government intends to sell 51 percent of the shares to a strategic investor while the remaining 19 percent will be retained by the government.
The latest plan is aimed at changing the face of the state-owned telecommunication firm after Telenor Management (TM) failed to achieve the target agreed on with government in terms of new line roll-out.
Last February, the government asked the State Enterprises Commission (SEC) to evaluate the performance of TM following last December expiration of its management contract with GT.
The evaluation performance was as a result the TM being unable to roll-out 750,000 mobile lines and also to put out 400,000 fixed lines by the end of 2005 as the contract demanded.
BusinessWeek gathered that these targets were not achieved as a result of conflicts between the then minority shareholders, Telekom Malaysia and the Government of Ghana over a loan contracted from Alcatel Shangai Bell of China.
BusinessWeek has been informed that the ministry is studying the evaluation report and will soon come out with the necessary recommendation.
Ghana Telecom to be listed on GSE
By Fred SARPONG
The Government, through the Ministry of Communications, is seeking support from the Ghana Stock Exchange (GSE) to list 30% of Ghana Telecom (GT), operators of the state-owned fixed line and mobile networks on the stock market. It is anticipated that an Initial Public Offer will be made before the end of this year.
In 2005, the Government of Ghana concluded a settlement of agreement with Telekom Malaysia and re-purchased the 30 per cent shares the Malaysian investor had bought in 1997 during the partial privatization of GT.
Ghana Telecom is now owned by the Government of Ghana again. In order to allow the public to be part of the ownership of GT however, the government now plans to float 30 percent of GT’s shares on the stock market.
This is also to allow the government raise money to finance its own ambitious spending programmes.
BusinessWeek has learnt that all necessary documentation is being put for the Initial Public Offer (IPO).
Also, the government intends to sell 51 percent of the shares to a strategic investor while the remaining 19 percent will be retained by the government.
The latest plan is aimed at changing the face of the state-owned telecommunication firm after Telenor Management (TM) failed to achieve the target agreed on with government in terms of new line roll-out.
Last February, the government asked the State Enterprises Commission (SEC) to evaluate the performance of TM following last December expiration of its management contract with GT.
The evaluation performance was as a result the TM being unable to roll-out 750,000 mobile lines and also to put out 400,000 fixed lines by the end of 2005 as the contract demanded.
BusinessWeek gathered that these targets were not achieved as a result of conflicts between the then minority shareholders, Telekom Malaysia and the Government of Ghana over a loan contracted from Alcatel Shangai Bell of China.
BusinessWeek has been informed that the ministry is studying the evaluation report and will soon come out with the necessary recommendation.Ghana Telecom to be listed on GSE
By Fred SARPONG
The Government, through the Ministry of Communications, is seeking support from the Ghana Stock Exchange (GSE) to list 30% of Ghana Telecom (GT), operators of the state-owned fixed line and mobile networks on the stock market. It is anticipated that an Initial Public Offer will be made before the end of this year.
In 2005, the Government of Ghana concluded a settlement of agreement with Telekom Malaysia and re-purchased the 30 per cent shares the Malaysian investor had bought in 1997 during the partial privatization of GT.
Ghana Telecom is now owned by the Government of Ghana again. In order to allow the public to be part of the ownership of GT however, the government now plans to float 30 percent of GT’s shares on the stock market.
This is also to allow the government raise money to finance its own ambitious spending programmes.
BusinessWeek has learnt that all necessary documentation is being put for the Initial Public Offer (IPO).
Also, the government intends to sell 51 percent of the shares to a strategic investor while the remaining 19 percent will be retained by the government.
The latest plan is aimed at changing the face of the state-owned telecommunication firm after Telenor Management (TM) failed to achieve the target agreed on with government in terms of new line roll-out.
Last February, the government asked the State Enterprises Commission (SEC) to evaluate the performance of TM following last December expiration of its management contract with GT.
The evaluation performance was as a result the TM being unable to roll-out 750,000 mobile lines and also to put out 400,000 fixed lines by the end of 2005 as the contract demanded.
BusinessWeek gathered that these targets were not achieved as a result of conflicts between the then minority shareholders, Telekom Malaysia and the Government of Ghana over a loan contracted from Alcatel Shangai Bell of China.
BusinessWeek has been informed that the ministry is studying the evaluation report and will soon come out with the necessary recommendation.Ghana Telecom to be listed on GSE
By Fred SARPONG
The Government, through the Ministry of Communications, is seeking support from the Ghana Stock Exchange (GSE) to list 30% of Ghana Telecom (GT), operators of the state-owned fixed line and mobile networks on the stock market. It is anticipated that an Initial Public Offer will be made before the end of this year.
In 2005, the Government of Ghana concluded a settlement of agreement with Telekom Malaysia and re-purchased the 30 per cent shares the Malaysian investor had bought in 1997 during the partial privatization of GT.
Ghana Telecom is now owned by the Government of Ghana again. In order to allow the public to be part of the ownership of GT however, the government now plans to float 30 percent of GT’s shares on the stock market.
This is also to allow the government raise money to finance its own ambitious spending programmes.
BusinessWeek has learnt that all necessary documentation is being put for the Initial Public Offer (IPO).
Also, the government intends to sell 51 percent of the shares to a strategic investor while the remaining 19 percent will be retained by the government.
The latest plan is aimed at changing the face of the state-owned telecommunication firm after Telenor Management (TM) failed to achieve the target agreed on with government in terms of new line roll-out.
Last February, the government asked the State Enterprises Commission (SEC) to evaluate the performance of TM following last December expiration of its management contract with GT.
The evaluation performance was as a result the TM being unable to roll-out 750,000 mobile lines and also to put out 400,000 fixed lines by the end of 2005 as the contract demanded.
BusinessWeek gathered that these targets were not achieved as a result of conflicts between the then minority shareholders, Telekom Malaysia and the Government of Ghana over a loan contracted from Alcatel Shangai Bell of China.
BusinessWeek has been informed that the ministry is studying the evaluation report and will soon come out with the necessary recommendation.