Vodaphone buys network in Ghana
Mobile operator Vodaphone has bought a slice of a network in Ghana, Africa, as it attempts to cash in on emerging markets.
The company has bought a controlling stake in Ghana Telecom from the country’s government, shelling out $900 (£481.4 million) in the process.
Mobiles are growing more popular in the North West African country, with 2.7 million people signing up to contracts in 2007.
Vodaphone’s deal gives it a 70 per cent share in the third-biggest mobile group in Ghana and the largest landline operator.
Arun Sarin, Vodafone chief executive, said: "Ghana is one of the most attractive markets in Africa with mobile subscribers growing at more than 55 per cent per annum and mobile penetration around 35 per cent."
More expansion could be on the cards, with a spokesman also adding the stable political situation in the country had helped seal the deal.
Ghana Telecom has a 17 per cent share of the country’s market, which translates to 1.4 million customers.
At the end of 2007 Vodafone had 252 million global customers, with more than 100 million of them in the growing markets of Eastern Europe, the Middle East, Africa and Asia.
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