Business News of Tuesday, 15 February 2022
Source: www.ghanaweb.live
2022-02-15Acquisition processes for AirtelTigo to be finalized soon – Ursula
Communications Minister, Ursula Owusu-Ekuful
Government takes over AirtelTigo
State finalizes processes in compliance with all requirements of the AirtelTigo agreement
AirtelTigo acquisition: Government saves jobs
Communications Minister, Ursula Owusu-Ekuful, has said the acquisition of AirtelTigo by government will soon be closed.
According to her, government is at the advanced stages of closing the deal
Read full articleto take full control over the telecommunication company.
The Communications and Digitalization Minister, while speaking on the floor of parliament on Tuesday, February 15, 2022, said government will complete all constitutional and legal processes by the end of the parliamentary sitting for the acquisition of AirtelTigo.
“We will improve the Telcom and ICT sector in full compliance with the laws of the country. So we will complete all constitutional and legal processes by the end of this meeting of parliament for the acquisition of AirtelTigo. The acquisition of Telecommunication companies follows a process, and those processes are ongoing. There are phases in these processes from contract signing, regulatory approvals, and closing obligations that parties have to undertake and the legal and regulatory processes that have to be gone through,” She said.
“The contract was signed at a particular period, that was what was announced, and the other closing obligations are ongoing. And when we conclude all of that, part of it being if, on the advice of the Attorney General, we need to comply with any provisions of the law regarding this acquisition, it will be done in due course”, Ursula Owusu-Ekuful pointed out.
It would be recalled that in August 2021, government of Ghana took over the operations of AirtelTigo after the company announced its departure from the Ghanaian market in 2020.
Government of Ghana which now owns 100 per cent of shares of the telecommunications company, will also own all customers, assets and liabilities of the joint venture.
The decision by government to own AirtelTigo was to save jobs, as well as, protect about 5.1 million customers and stakeholders of the company.
In 2017, the National Communications Authority granted the approval of two telecommunication networks - Bharti Airtel and Tigo to merge.
Forming AirtelTigo, the state became a shareholder in the telecommunication company.
View her Timepath below:
