Vodafone Group considers Ghana unit sale to Vodacom

Vodafone Group considers Ghana unit sale to Vodacom

Vodafone Group was reportedly mulling the sale of its Ghana unit to subsidiary Vodacom with the British company pushing on with restructuring plans to cut debt.

Bloomberg noted management of the Ghana business was instructed to report to Vodacom CEO Shameel Joosub from April last year, perhaps an initial step to prepare for consolidation.

Vodafone Ghana saw subscriber numbers fall recently and is partly owned (30%) by the government, which makes a sale to subsidiary Vodacom most likely, said a Bloomberg analyst.

Since being promoted to group CEO, Nick Read embarked on a strategy where the operator focused on key European and African markets to drive growth, it recently sold units in New Zealand and Malta.

The sale of the unit could be linked to group plans to go public later this year, a move the operator said in October is still going ahead.

Vodafone Ghana began in 2008 when the group acquired 70% of Ghana Telecom form the government for $900 million.

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