Ghana approves sale of controlling stake in Vodafone Ghana to Telecel Group

(Reuters) - Ghana has granted Vodafone International Holdings approval to sell its 70% stake in Vodafone Ghana to Telecel Group, the country's telecoms regulator said on Monday.

The National Communications Authority (NCA) approved the sale after Telecel submitted a revised financial and technical proposal in December. The NCA had turned down an initial sale plan submitted by Vodafone Ghana early last year as it did not meet required regulatory standards.

The NCA said that the revised proposal provided more clarity on funding required for the transaction and met the regulatory threshold.

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Susan Fenton)