MTN Ghana is in talks with Goldkey Telecoms to exchange shares in MTN for Goldkey's 4G spectrum in the 2600 MHz band, Adom News reported citing sources at the mobile firm. The sources said the industry regulator had given MTN and Goldkey the green light to start talks towards the deal. However, a former top official of the National Communications Authority (NCA) told the news portal that MTN's move on Goldkey "is part of MTN’s 35 percent localisation deal" following its acquisition of a 4G licence in the 800 MHz band in December 2015.
Goldkey is one of the three Broadband Wireless Access (BWA) licence holders who paid USD 6 million for the spectrum for 4G service. The 2600 MHz spectrum slot they got has since remained redundant and all the deadlines for deployment have been missed. MTN was required by law to sell 35 percent of its shares to Ghanaians within thirteen months of acquiring the 4G spectrum licence for USD 67.5 million. It has since floated shares and reportedly sold an estimated 10 percent in an initial public offer (IPO) on the Ghana Stock Exchange.
A chunk of the 35 percent shares floated remains unsold, but MTN told Adom News that once it has floated the 35 percent, it has fulfilled the licensing requirement even if all the shares have not yet been bought. The company is also in talks with Goldkey for a possible exchange of its redundant spectrum for some of the 35 percent of shares.
