The
230-seat National Assembly approved the deal with 124 votes
in favour versus 74 against, according to results read out
in the chamber by a parliamentary official. Not all members
were present for the special session called during the
summer recess.
The National Assembly began debating the deal in July, but
broke up for summer on July 18 without taking a vote after
the takeover became embroiled in party politics ahead of
presidential and parliamentary elections due in December.
The text approved on Thursday was a modified version of the
original deal which officials said clarified Vodafone's
commitments but did not substantively alter the terms.
Communications Minister Benjamin Aggrey-Ntim said the deal
set the stage for Ghana Telecom to be transformed into a
vibrant, competitive telecoms player, and that Vodafone
staff were already working alongside existing company staff.
"They will take over in a few weeks ... they are already
here, working with the current Ghana Telecom staff so they
have already learnt a little of our environment and they
will continue from there," he told Reuters after the vote.
Vodafone's
$900 million would be the biggest ever payment to Ghana's
government, Aggrey-Ntim said.
Critics say Vodafone's bid, which implies a valuation of
around $1.3 billion, is too low for a company which
currently holds a monopoly on fixed phone lines and a 17
percent mobile market share in one of West Africa's most
promising economies.
An opposition lawyer has filed a court writ seeking to block
the takeover, and has said he plans to pursue legal action
even if parliament approved the deal.
Haruna Iddrisu, opposition spokesman on communications, said
clauses in the agreement committed the Ghanaian state to
make payments amounting to around $300 million, meaning the
deal was not worth the headline figure of $900 million.
"GT is a strategic national asset and it is our belief that
the current deal is not in the national interest," he said.
Iddrisu said he had put forward a counter proposal which
would involve Ghana renegotiating to sell only 49 percent of
Ghana Telecom and retain a controlling 51 percent interest.
"We could have made more money, we have given too much and
we are getting too little," said John Mahama, who is the
running mate of opposition presidential candidate John Atta
Mills.
But some analysts have questioned whether Ghana could have
expected any higher offer, especially given Ghana Telecom is
operating at a loss and has accrued some $400 million of
debts. (Writing by Alistair Thomson, editing by Phil
Berlowitz)
News
Source: Reuters
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