Audio By Carbonatix
Attempt by the Vodafone Group to sell its 51% stake in Vodacom Congo SPRL to MTN is facing two separate legal challenges from its partner, Congolese Wireless Network SPRL (CWN), and a former consultant.
Bloomberg quoted Chairman and founder of CWN Alieu Conteh as saying its lawyers had filed an application in a Kinshasa court to stop the sale.
CWN owns 49% of Vodacom Congo SPRL.
Meanwhile, Moto Mabanga, a former consultant to the Vodacom Group and director of Namemco Energy (Pty) Limited, was also reported to have said he would halt any deal until he was paid a ‘success fee’ of $40.8 million for work he did for Vodacom in 2007 and 2008.
“We’ll send a letter to all the main shareholders and we’ll block the sale,” Conteh told Bloomberg in Kinshasa, adding that the sale would be blocked until all avenues for dealing with internal disputes were exhausted.
Spokesperson for Vodacom South Africa, Richard Boorman was also quoted as saying Vodacom had received court papers from CWN, but he declined to comment on the consultant’s settlement claim.
Earlier reports attributed to two persons familiar with the deal, indicated the MTN Group, Africa’s largest mobile-phone company was seeking to buy Vodacom’s stake in the Congo venture.
Angola’s Unitel SA is also said to be among the bidders, but Unitel’s Deputy Chief Executive Officer Amilcar Safeca declined to comment on the matter.
Meanwhile Vodacom had agreed with CWN on December 22, 2010, to appoint London-based NM Rothschild & Sons Ltd. to “explore options” for its Congo unit.
The process is still under way, Boorman said, and media reports in South Africa indicated at least four companies were bidding for the stake.
MTN is the leading mobile telecom operator in Africa recording 150 million subscribers across its 22 operations, including Ghana, in June 2011.
MTN is the market leader in Ghana with 9,894,074 subscribers representing 48.4% mobile market share and more than 40% of Ghana's populations.
The company said it is poised to get 10 million subscribers by the close of this year.
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.
Tags:
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.
Latest Stories
-
Amerado shuts down Okese Park with third edition of My Motherland Concert in Ejisu
29 seconds -
Man City close to agreeing terms Bournemouth to sign Semenyo
22 minutes -
Time is right to change Man Utd formation – Amorim
29 minutes -
Akufo-Addo’s record not entirely negative despite economic challenges – Anyenini
32 minutes -
Dafeamekpor chairs Kenpong Travel’s 2026 World Cup Travels management team
1 hour -
Group petitions OSP, EOCO,AG, over alleged unlawful role of unlicensed firm in GoldBod operations
2 hours -
Ghana in Praise 2026 set to open new year with national worship gathering
2 hours -
Keeping Ofori-Atta for 8 years was Akufo-Addo’s worst decision – Winston Amoah
2 hours -
Whose security? whose interest?: U.S. military action, Nigeria’s internal failure, and the dynamics of ECOWAS in West Africa
2 hours -
Abuakwa South MP names baby of 13-year-old teenage mother after First Lady
3 hours -
Police thwart robbery attempt at Afienya-Mataheko, 4 suspects dead
3 hours -
Don’t lower the bar because things were worse before – Kojo Yankson on Mahama gov’t
4 hours -
2024 elections helped stabilise Ghana’s democracy – Sulemana Braimah
4 hours -
Playback: 2025 Year in Review
5 hours -
Ghana’s crypto transactions hit $10bn by November – SEC
5 hours
