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Business News of Friday, 15 August 2003

Source: Reuters

Ghana says encouraged over Ashanti "competition"

ACCRA, Aug 15 (Reuters) - Ghana, which holds the key veto in a takeover battle for its miner Ashanti Goldfields , said on Friday it was encouraged that there was competition and that other bidders were welcome.

"The government is encouraged that there is competition. We are pleased, it means there is interest in the company," Deputy Finance Minister Anthony Akoto Osei told Ghanaian radio. It is Ghana's first public comment since London-based miner Randgold Resources put a bid on the table to rival one from the world's second largest gold producer AngloGold .

When asked about reports that Ghana had encouraged Randgold to bid, the minister replied: "We haven't encouraged anyone in particular, in fact we invite anyone who wants to make an offer."

"In principle, any transaction that improves our shares is welcome."