Pulse.com.gh logo

AirtelTigo Merger Government to acquire 25% shares in AirtelTigo – Ursula Owusu

The Communications Minister Ursula Owusu Ekuful said the acquisition is in fulfilment of the conditions of the merger between the two telecom companies.

  • Published:
24/7 Live - Subscribe to the Pulse Newsletter!

The Communications Minister Ursula Owusu Ekuful has said that government of Ghana has two years to decide how it intends acquiring 25 percent shares in AirtelTigo.

In an interview with Accra-based Starr FM, she said this is in fulfilment of the conditions of the merger between the two telecom companies.

“It is not that government wants a share…government has an embedded option to purchase 25percent of the shares of the merged entity within two years and so the opportunity is there and the government can take up that opportunity.”

READ ALSO: GRA officer fails to account for GHC2.4m

“We think that there should be local participation in this industry and it shouldn’t just be limited to the players. And they should also understand that if they are working in this market some of the profit must stay here to develop our country in the form of the local partners that they will get. So within the next two years, we will decide which vehicle to use to acquire up to the 25percent shares,” she added.

The sector said the government is considering which instrument to use in accessing the shares it is entitled to.

READ ALSO: 6 things every Airtel and Tigo customer should know about the merger

The National Communication Authority (NCA) in October approved the merger between Airtel and Tigo.

AirtelTigo is the new brand name after the merger.

Announcing the new name CEO of AirtelTigo Roshi Motman said “As you can see, we are now bigger, better and stronger with 22 percent market share. It means that we will play an important part in the industry and serve our customers with quality and better service.”

We are determined to move Ghana beyond aid - Bawumia

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Economy Bawumia says 'cedi depreciation temporary': Adviser says it...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Menzgold Ghana Investment company closes down its Gold Vault Marketbullet
4 Shirley Frimpong-Manso and Ken Attoh owe The Royal Bankbullet
5 Free Decoder Promo StarTimes launches most affordable pay-tv...bullet
6 Salaries In 2018 Here are the dates public workers will be...bullet
7 Economy of Ghana Foreigners can’t dominate our economy –...bullet
8 Government Contracts No registration, no government...bullet
9 Ghana Cedi Mahama shades Bawumia over Cedi depreciationbullet
10 Star Phone Services One Smart Star opens its first...bullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Money Alert Meet Africa's richest womanbullet
3 Video We are determined to move Ghana beyond aid - Bawumiabullet
4 Forbes 2018 Africa's billionaires rich listbullet
5 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
6 Plane Crash Starbow suspends operations following plane crashbullet
7 Entrepreneurship How to be resourceful as an entrepreneurbullet
8 Support Finance minister buys Kantanka carbullet
9 New Phones Nokia MWC 2018 Event in 5 minutesbullet