share_log
Hi,
moomoo ID:0
Log Out
English
Back
  • English
  • 中文繁体
  • 中文简体

Vodafone Agrees To Sell Its Ghana Operations To Telecel: Report

Benzinga Real-time News ·  07/29 21:08
  • Vodafone Group Plc (NASDAQ:VOD) agreed to sell its operations in Ghana to Telecel Group, Bloomberg reports quoting a company email.
  • The financial terms of the transaction remain undisclosed.
  • Vodafone entered Ghana in 2008, paying the west African county's government $900 million for 70% of Ghana Telecommunications Co. The government retained a 30% holding in the business.
  • In Africa, Vodafone steadily consolidated interests under its sub-Saharan subsidiary Vodacom Group Ltd (OTC:VDMCY).
  • Vodafone CEO Nick Read focused the group on Europe and Africa as he streamlined a sprawling operation. 
  • Telecel plans to help fund the acquisition by offloading the Ghana business's mobile towers later.
  • Founded in 1986, Telecel operates in over 30 countries.
  • Vodafone clocked first-quarter FY23 revenue growth of 1.6% year-on-year to €11.28 billion, mainly driven by service revenue growth in Europe and Africa.
  • Price Action: VOD shares traded higher by 0.42% at $14.45 in the premarket on the last check Friday.
  • Photo via Wikimedia Commons

This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.

Moomoo is a financial information and trading app offered by Moomoo Technologies Inc.
In the U.S., investment products and services available through the moomoo app are offered by Moomoo Financial Inc., a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a member of Financial Industry Regulatory Authority (FINRA)/Securities Investor Protection Corporation (SIPC).
In Singapore, investment products and services available through the moomoo app are offered through Moomoo Financial Singapore Pte. Ltd. regulated by the Monetary Authority of Singapore (MAS). Moomoo Financial Singapore Pte. Ltd. is a Capital Markets Services Licence (License No. CMS101000) holder with the Exempt Financial Adviser Status. This advertisement has not been reviewed by the Monetary Authority of Singapore.
In Australia, financial products and services available through the moomoo app are provided by Futu Securities (Australia) Ltd, an Australian Financial Services Licensee (AFSL No. 224663) regulated by the Australian Securities and Investment Commission (ASIC). Please read and understand our Financial Services Guide, Terms and Conditions, Privacy Policy and other disclosure documents which are available on our websites https://www.futuau.com and https://www.moomoo.com/au. Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd. and Futu Securities (Australia) Ltd are affiliated companies.