Telecom giant to reportedly acquire Visafone

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January 7, 2016 11:06 AM

MTN Nigeria neither confirmed nor denied the deal, but affirmed that ts management was already preparing a statement

Phuthuma Nhleko (L), CEO of MTN group, addresses a news conference in a file photo. REUTERS/Aladin Abdel Naby

Over the past few months there have been several reports and rumors about an imminent takeover of CDMA operator Visafone, by MTN.

New reports now suggest that MTN may have completed the acquisition of the only surviving CDMA operator in the country.

According to Punch.ng, MTN Nigeria neither confirmed nor denied the deal, but affirmed that ts management was already preparing a statement which would be made available to the press at a later time.

READ: NCC ready to force telecom giant to pay fine as deadline expires - report

No word has been received yet on the statement as at press time.

The Punch report further reveals that MTN was looking to have completed the acquisition of Visafone before the end of 2015 but the N1.04 trillion fine imposed on it may have put a delay to that.

MTN Nigeria was fined N1.04 trillion by the Nigeria Communications Commission (NCC) for failing to deactivate 5.1 million unregistered SIMs in October.

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