Etisalat in Talks to Buy Nigerian CDMA Network Multi-Links

Published on: 1st Jan 1970: 1:33am

South Africa's Telkom is reported to be in talks with UAE based Etisalat over the sale of its Nigerian CDMA network, Multi-Links. Telkom previously said that it was looking to sell the Nigerian subsidiary, and Etisalat already owns an existing GSM (and now 3G) license in the country.

Citing a report by the Communications Workers Union (CWU), BusinessReport said that an option to sell 80% of the company to Etisalat was initially rejected by Telkom, but that talks are still continuing.

"In the interim, it is common knowledge to the entire company that Multi-Links acting chief executive and acting CSMO (chief sales and marketing officer) are involved in discussions with Etisalaat (sic) regarding the merger/sale due to the absence of viability of the company. This absence of viability (was) totally created and (is) currently still being engineered by themselves," the executive wrote.

Telkom SA brought a 75% stake in the Nigerian mobile network operator in 2007 for US$280 million, and took full ownership in 200 for US$130 million.

Multi-Links provides fixed, mobile, data and international communications services in Nigeria.

On the web: BusinessReport

 

Tags: [telkom]  [multi-links]  [cdma]  [etisalat]  [option]  [Nigeria]