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MTN Looking to Buy Smaller Nigerian Mobile Network

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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.


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Tags: mtn  visafone communications  Nigeria