Last week i published an article that Jospong Group of Companies(JGC) To TakeOver Expresso Telecoms , but ADOMBUSINESS on tuesday confirm that the Jospong Group of Companies (JGC) and Expresso Telecoms Ghana deal is off.
The two closed discussions on the sale of Expresso on Friday January 31, 2014, two clear days after ADOMBUSINESS revealed that negotiations had been ongoing between Jospong and Sudatel about the sale of Expresso, the only CDMA operator in the country.
In a letter exclusively addressed to ADOMBUSINESS, the Management of Expresso said “…we acknowledge that we have had discussions with the Jospong Group of Companies regarding the sale of Expresso. Our discussions with Jospong, however, came to a close on 31st January, 2014.”
The Managing Director of Expresso Ghana, El Amir Ahmed El Amir later told ADOMBUSINESS Jospong lost interest in the deal and pull out.
He explained that Jospong wrote to Expresso in April 2013 asking to buy Expresso.
According to El Amir, there were other interested buyers but “Jospong asked for exclusive negotiations between April 2013 and December 2013, but we closed the discussion on January 31, 2014 and I can say we do not have any more commitments toward each other.”
I promised to keep you updated on the deal. Here it is, you are free use the comment form below to add your views if on PC