Hutch sells Kasapa

11 Apr 2008

Hutchison Telecom International (HTIL) has sold Kasapa Telecom to EGH International for a cash price of HKD584 million (USD75 million), reports Ghana daily The Statesman. A buyout agreement was originally signed in January between the two parties. The deal is now waiting to final regulatory approval. According to TeleGeography’s GlobalComms database, Kasapa is Ghana’s smallest cellco, claiming a 3.8% share of the subscriber market at the end of 2007. The sale comes as part of a wider move by HTIL to divest certain CDMA-based businesses and concentrate fully on its subsidiaries operating GSM networks.

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