The Attorney-General and Minister of Justice, Godfred Yeboah-Dame has okayed the sale of Vodafone Ghana to Telecel.
The green light was given by the Attorney-General after scrutinizing the document on the transfer of shares of Vodafone to Telecel submitted by the Ministry of Finance.
According to the document submitted to the Attorney-General, the Finance Ministry requested for a review of all the relevant transaction documents on the transfer of 70 percent majority shares in Ghana Telecommunications Company Limited (Vodafone Ghana).
Giving his advice, the Attorney-General indicated that after reviewing documents of the transaction, they meet all the conditions per Section 98 of the Companies Act, 2019 (Act 992), Regulations 34 of the Regulations and Articles 14 & 15 of the Shareholders’ Agreement.
In his response to the Finance Minister, the office of the Attorney-General and Ministry of Justice to the Minister of Finance declared that “the transaction may proceed…”
This development was the final lap to complete the transfer of shares to be approved by the company’s board. With this concluded, insiders at Vodafone Ghana say the board will likely meet next week to approve the transaction.
