Trial opens to consider Ghana Telecom sale

Austrian businessman Ronny Pecik, who is in the process of staging a so-called ‘hostile takeover’ of the Telekom Austria Group, has finally confirmed that Egyptian telecoms tycoon Naguib Sawiris is indeed involved in his approach to build a significant stake in the telecoms giant. Reuters, citing a report by Austrian newspaper Die Presse, quotes Pecik as saying: ‘He is a financial investor in my company Marathon Zwei Beteiligungs’. However, Pecik denied that he is Sawiris’s puppet, commenting: ‘I definitely rule out that I am a front man for anyone. [More]

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