Gov't asks for advice on Ashanti-Anglogold merger

Accra, Oct. 15, GNA - Government on Wednesday said following the decision of the Board of Ashanti Goldfields to recommend to its shareholders to accept the merger with Anglogold, it has instructed Societe Generale (SG), its Advisor, to analyse the selection and to advise it expeditiously.

Nana Akomea, Minister of Information, in a statement issued in Accra, said the Government had taken note of the Board of Ashanti's decision announced on Tuesday and had asked SG to analyse the decision; "examine all issues that are relevant to the State in Anglogold's offer; and submit their final report to Government as soon as practicable" to enable it to study the report timeously and announce its decision. Anglogold and Rangold, both South African mining companies, have been engaged in competitive bidding to merge with Ashanti.