https://www.myjoyonline.com/ndc-vows-to-reverse-gt-deal/-------https://www.myjoyonline.com/ndc-vows-to-reverse-gt-deal/
Economy

NDC vows to reverse GT deal

The National Democratic Congress (NDC) has threatened to reverse the Ghana Telecom sale agreement between the government and Vodafone UK, if it comes to power. The NDC Member of Parliament for Jomoro, Mr Lee Ocran, who issued the threat on Joy FM's current affairs programme, Front Page, accused the government of wrong doing in the transaction process. He said against the motion because “it is a bad deal [and] we have hinted Vodafone that if we win the elections, we shall reverse the deal”. The Parliament of Ghana on Thursday, August 14, 2008, voted 124 - 74 in favour of a deal enabling the government to offload 70% of its shares in GT to Vodafone. Although the deal was vehemently opposed by various groups in the country, the government maintained the sale was necessary to inject capital in the company. But Mr. Ocran has some reservations about the propriety of the deal. He said if government needed money to supplement the budget, as it claimed, it would have gone for a better deal instead of bundling all the assets of GT and selling them for peanuts. Responding to Mr. Ocran, the Deputy Minister of Communications, Fred Opare Ansah, expressed surprise at the NDC’s desire to reverse the deal and wondered how they were going to go about it. According to him, there were no underhand dealings in the transaction and expressed the hope that the deal would be sealed in tow weeks. For him the idea of selling GT was agreed to by all Parliamentarians when they passed a resolution to adopt the 2007 supplementary budget and the 2008 budget. He was confident that by 2010, “Vodafone would have worked on Ghana Telecom” enough to enable the government offloads the rest of its shares on the stock market. The joint company, he hinted, would be called Vodafone Ghana Telecom. There would be seven board members, five from Vodafone and two representing the government of Ghana. Story by Isaac Essel

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.