South African telco MTN is in the process of buying Nigeria’s Visafone for an undisclosed amount, reports Bloomberg.
MTN had 59.9 million subscribers in Nigeria as of the end of 2014, while Visafone had some 2.2 million, according to Nigerian…
South African telco MTN is in the process of buying Nigeria’s Visafone for an undisclosed amount, reports Bloomberg.
MTN had 59.9 million subscribers in Nigeria as of the end of 2014, while Visafone had some 2.2 million, according to Nigerian Communications Commission (NCC) data.
MTN is interested in Visafone, Nigeria’s final CDMA player, for the 700 MHz spectrum it acquired in 2014, with a view to repurposing it for LTE, according to local news outlet Newsverge.
Visafone is led by local businessman and banker Jim Ovia, who tried to acquire Multilinks, another Nigerian telco, for some US$50m in 2011. Later that year, having backed out of that deal because of legal concerns, Visafone agreed a sale and leaseback tower deal with IHS.
Spokespeople for the companies were not immediately available for comment.
