Celtel Finally Takes Over Westel

The Government of Ghana has finally concluded agreements with Celtel to take over Westel. The signing which took place last Friday 14th December, 2007 gives the new owners the platform to move into operations. The Government announced Celtel as the winner of the bids in October but the final endorsement delayed till now. Sources close to the transaction attribute the delay to disagreements over some provisions that gave wide tax holidays to Celtel. It is however, still unclear if those provisions have been withdrawn. The communications ministry is however expected to come out with a release on this development later Monday 17th December 2007. Meanwhile the selection of the winner for Ghana Telecom is still being finalized, although the transaction advisors have already passed on their recommendations to government.