Continuing its hunt in emerging telecom markets, Vodafone has now acquired majority stake in Ghana Telecommunications, the country’s largest fixed-line operator for $900m (£450m).

Vodafone snapped 70 percent shares of the Ghana firm whose mobile subscribers increased by more than 50 percent last year. Vodafone further is aiming to invest $500m over the next five years in the business and network in Ghana to acquire a 25% market share by 2013.

Commenting on the acquisition, soon to exit Vodafone’s chief executive, Arun Sarin said “I expect that our investment will generate substantial benefits for Vodafone and for the Ghanaian economy and we are delighted that we will be working in partnership with the government of Ghana.”