Nigerian mobile operator Starcomm is in talks to buy local rival Multilinks, reports Telegeography citing local paper This Day.
This is not the first time that Multilinks, which has reportedly been on the block since November, has held talks with…
Nigerian mobile operator Starcomm is in talks to buy local rival Multilinks, reports Telegeography citing local paper This Day.
This is not the first time that Multilinks, which has reportedly been on the block since November, has held talks with Starcomm but is now discussing a new price. Etisalat Nigeria, which also reportedly approached Telkom about its local unit, previously denied its interest.
In 2007, Telkom paid US$280m for a 75% stake in Multilinks and two years later acquired the remaining 25% from Kenston Investments for US$130m. Last year, Telkom wrote down the value of Multilinks by some US$751m.
Starcomms, which is listed on the Nigerian stock exchange, claims to have an active subscriber base of two million.
Starcomm and Telkom could not be reached for comment by press time.
