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COVERIT/TELECOMNEWSLETTER

MTN Finally Seals Visafone Acquisition Deal

South Africa owned giant telecommunications firm, MTN, has finally acquired Visafone, the only surviving Code Division Multiple Access (CDMA) operator in Nigeria, owned by the banking magnate, Jim Ovia.

The acquisition of Visafone, marks the final death of CDMA operations in Africa’s largest economy.

Though, MTN is yet to make official announcement of the acquisition, inside sources confirmed the development to Daily Trust.

Contrary to the initial report about the deal that MTN is not taking along the purchase of the CDMA company with its liabilities, sources stated the telecoms giant has acquired the struggling Visafone with all its properties, including its spectrum and liabilities.

 

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  1. RT @BizWatchNigeria: MTN Finally Seals Visafone Acquisition Deal – https://t.co/VESLn26nHA

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