GT wasn't Sold for $900m

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CARDINAL 10 years ago

Fuck off Bature, Rawlings sold the 30 percent of GT to Telecom Malay for $45 million which means Rawlings valued the whole GT, 100 percent for $105 million.

Tell us what you wrote when Rawlings practically gave 30 percent ...
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Fuck off Bature, Rawlings sold the 30 percent of GT to Telecom Malay for $45 million which means Rawlings valued the whole GT, 100 percent for $105 million.

Tell us what you wrote when Rawlings practically gave 30 percent of GT away for $45 million and a Malaysian whore to Telecom Malay.
DAN 10 years ago

1.5 million from south africa wouldbe less than 900 million, I think you mean 1.5 billion dollars

1.5 million from south africa wouldbe less than 900 million, I think you mean 1.5 billion dollars
JAMES Y 10 years ago

Am I dreaming? Is "$1.5m" bigger than $900m? I don't get it!

Am I dreaming? Is "$1.5m" bigger than $900m? I don't get it!
SKILLO 10 years ago

Another dumb move by our leaders. You turned down $1.5Billion for $900M? WHY? And you don't even regret it.The difference is $600M, which can cure 'dumsor" forever. And the you go back and beg to borrow money.

Another dumb move by our leaders. You turned down $1.5Billion for $900M? WHY? And you don't even regret it.The difference is $600M, which can cure 'dumsor" forever. And the you go back and beg to borrow money.
KANAWU (U.S) 10 years ago

What is Bature trying to bring across?
Was Kuffour talking about Selling Price or Profit. For him to know, $900mil was the Selling price this does not take account of any expense.
So Kuffour was right.

What Bature is ta ...
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What is Bature trying to bring across?
Was Kuffour talking about Selling Price or Profit. For him to know, $900mil was the Selling price this does not take account of any expense.
So Kuffour was right.

What Bature is talking about is the profit in business parlance. Which is Sales less Cost and expenses.(ie $900mil - $400mil) Which is equal to the $500mil. So I don't see why Kuffour was wrong about te $900mil quote.
If Bature want to make the same analyses for the current deal, I believe the selling price quoted would also be wrong, because there a debts that the current administration is also taken over.

Bature try to make sense. Don't throw dust into people's eye. We can also think and know what is right and wrong
KWASI ASAMOAH 10 years ago

GT was sold at CASH FREE DEBT FREE basis. You know what this means? In simple language this means IF THERE WAS CASH IN GT ACCOUNT VODAFONE WOULD NOT BENEFIT FROM IT; likewise if THERE WERE DEBTS STANDING IN GT BOOKS VODAFONE ...
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GT was sold at CASH FREE DEBT FREE basis. You know what this means? In simple language this means IF THERE WAS CASH IN GT ACCOUNT VODAFONE WOULD NOT BENEFIT FROM IT; likewise if THERE WERE DEBTS STANDING IN GT BOOKS VODAFONE would not take over! And you know the interesting part of it: GT had huge overdraft sitting in its Bank Accounts likewise huge CREDITORS outstanding in it's books.
THE GENERAL PRACTICE is that companies as sold at their NET ASSETS. Therefore VODAFONE by not taking up the liabilities of GT bought the company at GROSS assets and paid $900m for it.
Out of this GT paid a total of almost $700m of debt. Therefore In fact at the end of it all we only got just over $200m from the sale of GT to VODAFONE. A full report on this is available from the internet. MINISTERIAL REPORT ON THE SALE OF GT TO VADAFONE.
Mr. KUFUOR knew this and there arranged with VODAFONE to sell on DEBT FREE CASH FREE basis in order to fool us. THIS KUFUOR MAN IS A VERY WICKED MAN. I have great sympathy for illiterates who are being used by some of our leaders for their personal gains.
impromptus 10 years ago

K4 was great hands on leader who understood business

K4 was great hands on leader who understood business
impromptus 10 years ago

Stop the Taliban politics and grow some wisdom. All state companies are useless including the BoG

Stop the Taliban politics and grow some wisdom. All state companies are useless including the BoG
Whatever 10 years ago

Now all the massive business opportunities, the profit and all in the telecom sector are being guzzled up by foreign telecommunication companies who send the money back to the home countries o boost the economy there. All be ...
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Now all the massive business opportunities, the profit and all in the telecom sector are being guzzled up by foreign telecommunication companies who send the money back to the home countries o boost the economy there. All because of the senseless decision to offload GT
G. K. Berko 10 years ago

Our Constitution must prohibit the President from single-handedly doing any business deals with Foreign Companies. The President should only be a facilitator and not a Technical negotiator on deals. Such powers as the former ...
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Our Constitution must prohibit the President from single-handedly doing any business deals with Foreign Companies. The President should only be a facilitator and not a Technical negotiator on deals. Such powers as the former President Kufuor used to sell off the GT inflate the Executive powers way beyond the Parliament's. It seems like the President has domineering Powers that the Parliament dare not challenge. That is totally wrong.

Only Proposals for some Commercial transaction should be made by the Presidency, while real Technical experts in the field of interest are assigned to work out the details and close the deals, with the Parliament reserving the right to final approval.

For better or worse for the Nation, Kufuor's direct approach leaves many to suspect that he personally benefitted from the GT deal.

So also did his choice of his personal friends in the partnership of the EO-Group that brought us Kosmos to harness our oil bears a heavy cloud of similar suspicion.

Never have I ever heard of any Prime Minister or President of the World's leading Capitalist Democracies taken up the responsibility to personally negotiate the sales or transfer or establishment of a Private Business deal.

Why would the President ignore or sideline his own Ministers to personally negotiate in secrecy any Business deal? Did he not trust the competence or integrity of his Ministers and their Technical Staff?

Folks, such is the reason why the admonishment of the USA President, Mr. Obama, that we should strengthen our Institutions makes most sense. If our oversight Institutions like the General Inspectorate were any strong, we would not have any one Official of Government be the single arbiter, executioner and negotiator for our Commercial interests.

Our System is fraught with gaping holes through which corruption is easily pulled through by greedy, selfish, insensitive, egomaniacal Officials. And it is time we woke up and demanded a drastic change in how we do Government Business, or we would forever be afflicted with massive corruption.

Long Live Ghana!!!

GT wasn't Sold for $900m

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