AirtelTigo

AirtelTigo to sell 25% shares to Government

THE MINISTER of Communications, Mrs Ursula Owusu-Ekuful, has stated that the government is yet to decide which tool to use to acquire 25% shares in AirtelTigo.

According to the Minister, the government has an embedded option to purchase up to 25% of the shares of the merged entity within two years and so the opportunity is there for them to take up that opportunity.

She added, “We think that there should be local participation in this industry and it shouldn’t be limited to the big players but also understand that some of their profit must stay here to develop our country in the form of local partners they will get in the next two years.”

Mrs Owusu-Ekuful explained that its Ministry is following the process because they do not want any labour agitation to come up.

“We are following this process closely but as far as we are concerned all the necessary approval has been granted and they have started their advertisement and programmes,” she said.

She added that the merging of the two telecommunications companies would result in a vibrant and quality service delivery at a cheaper cost to citizens.

She encouraged even greater consolidations along such lines within the market.

Source: Erica Arthur / Business.com.gh