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Business News of Wednesday, 30 July 2003

Source: Reuters

Ghana wants AngloGold to up Ashanti offer

Ghana wants South African gold producer AngloGold to improve the terms of its offer for state-owned Ashanti Goldfields , a source close to the talks said on Tuesday.

The Ghanaian government has a 17 percent stake in Ashanti, including a golden share allowing it to block any takeover.

Under the deal proposed by AngloGold on May 16, Ashanti shareholders would receive 26 AngloGold shares for every 100 Ashanti shares held.