Vodafone Group, Sunday said it has completed the acquisition of a 70% stake in state-controlled fixed-line and mobile operator Ghana Telecom for $900 million on a debt-free, cash-free basis. Last week the Ghanaian parliament approved the sale, despite criticism from the opposition party who believe the shares are undervalued and say the deal isn't in the national interest.

Ghana Telecom is the leading fixed-line operator in Ghana with a 17% share of the mobile market, which Vodafone intends to increase to 25%.

Source:Dow Jones