Telkom South Africa Cancels Sale of Nigerian CDMA Network
Published on: 14th Jun 2011
Note -- this news article is more than a year old.
Telkom South Africa has announced in a statement buried in its financial results that it has cancelled the troubled sale of its Nigerian CDMA network.
Telkom South Africa added that its board of directors resolved on 10 June 2011 to stop all funding to Multi-Links Telecommunications.
Earlier this year, Telkom said that it was selling the Nigerian CDMA network, Multi-Links to another Nigerian network, Visafone. However, shortly after that, it emerged that the company is embroiled in a legal dispute with the tower networks operator, Helios.
Helios had claimed that it had secured an order blocking the sale pending the outcome of the USD250 million legal action.