MTN Buys VisaFone After Months Of Negotiation

Despite the $5.2 billion  fine by NCC, MTN has finally acquired Visafone, the only surviving Code Division Multiple Access (CDMA) operator in Nigeria after months of negotiation.

According to reports, the transaction had been concluded, but no actual amount has been disclosed.  However, the source said,

 “It’s certainly a multimillion naira deal because Visafone was the largest CDMA operator in the country. The acquisition is expected to ensure high quality data services and improve mobile broadband experience for subscribers of Visafone and MTN. The merger is also expected to provide the much-needed relief to the booming internet economy by making available quality mobile broadband services adopting the state of the art 4G LTE technologies during the year.