Vodacom Still Interested In Nigerian Market

According to Mr. Alan Knott-Craig, Chief Executive Officer of the Vodacom Group, Vodacom remains committed and interested in entering the Nigerian market, and to that end has been pursuing the acquisition of a controlling interest in V-Mobile, one of the four cellular operators in Nigeria.

However the asking price by V-Mobile for control of their company is considered too high.

Should the opportunity arise to purchase a controlling interest in V-Mobile at a price acceptable to the shareholders of Vodacom, then such an acquisition will be pursued.

The Mobile World database notes that V-Mobile, with 3.7 million customers at the end of Q3 2005 has a 22.5% market share."

Posted to the site on 28th February 2006