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13.09.2005 Business & Finance

GNPC assumes full ownership of WESTEL


Accra, Sept. 13, GNA - Ghana National Petroleum Corporation (GNPC) is now the sole owner of Western Telesystems (Ghana) Limited (WESTEL), the Corporation announced on Tuesday.

A statement signed by the Board Chairman of GNPC, Mr Stephen Sekyere-Abankwa, said on Monday ACG Telesystems Llc, the majority shareholder in WESTEL, sold its entire 66.67 per cent in WESTEL to GNPC, which was the minority shareholder with 33.33 per cent shares.

"GNPC is consequently the sole owner of the 100 per cent shares in Western Telesystems (Ghana) Limited (WESTEL)."

GNPC in 1997 entered into a joint venture with WESTEL to be the second national telecommunication operator.