Vodafone buys 70% stake in Ghana mobile firm

Vodafone has snapped up a controlling stake in Ghana's third largest mobile phone company for $900m (£452m) as it continues to hunt for growth in emerging markets. Vodafone acquired the 70% stake in Ghana Telecommunications, which is also the country's largest fixed-line operator, from the government as part of the company's privatisation. The government is retaining the rest but has said previously it will be floated on the local stock market. The move is the latest by Vodafone to snap up operations in fast growing emerging markets as its traditional operations in western Europe face intense competition and regulatory pricing pressures. Over the past three years it has bought businesses in Turkey and India and last month offered £1.2bn to seize control of its South African joint venture Vodacom, the country's largest mobile... [read full story]