MTN Looking to Buy Smaller Nigerian Mobile Network
Published on: 17th Apr 2015
Note -- this news article is more than a year old.
South Africa based MTN Group is reported to be in talks to buy Nigeria based Visafone Communications. MTN already operates a network in Nigeria, where it had just under 60 million customers at the end of last year.
Visafone Communications is a much smaller operator, having been founded in 2007 and has some 2.2 million customers.
A deal would see a modest level of consolidation in the local market but not enough to be significant, and the main benefit is likely to be cost-cutting by stripping away overlapping network infrastruture.
"We will send a holding statement at the appropriate time," Funmilayo Onajide, a spokeswoman for MTN's Nigerian unit told Bloomberg News.