Telekom Seeks $90M-$100M For Ghana Telecom

KUALA LUMPUR (Dow Jones)--Telekom Malaysia wants $90 million to $100 million for its 30% stake in Ghana Telecom Co., the New Straits Times says, citing an unnamed source.

However, valuers appointed by Ghana's government, which owns the other 70% of Ghana Telecom, are believed to favor a lower price for the stake, the paper says.

Government-controlled Telekom Malaysia is trying to sell its Ghana Telecom stake, probably back to the Ghana government, after its management contract was not renewed last year, the report adds.

Telekom Malaysia is also seeking the return of $50 million deposited as half payment for an additional 15% stake in Ghana Telecom in 2000 and $8 million as interest on the deposit, the paper says.