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Telkom sells Multi-Links CDMA business
South Africa’s Telkom has agreed to sell the CDMA business of its loss-making Nigerian unit Multi-Links for an enterprise value of US$52m.
Telkom will retain Multi-Links’ fibre network and fixed-line operations in Nigeria.
The sale will be completed…
South Africa’s Telkom has agreed to sell the CDMA business of its loss-making Nigerian unit Multi-Links for an enterprise value of US$52m.
Telkom will retain Multi-Links’ fibre network and fixed-line operations in Nigeria.
The sale will be completed through a number of transaction steps.
Telkom said the proceeds would be net of the existing liabilities of Multi-Links CDMA business.
Jeffrey Hedberg, former Acting Group Chief Executive Officer of Telkom said: “We are pleased to announce the successful conclusion of realigning our business model to focus on our core competencies. Telkom management is of the opinion that the sale of the Multi-Links’ CDMA business to Visafone represents the best option available to our shareholders and Multi-Links’ customers.”
Telkom bought 75% of Multi-Links for US$280m in March 2007 and the remaining 25% for US$130m in January 2009.
