According to a report by Bloomberg, MTN Group is said to be in talks to buy Nigeria’s wireless provider Visafone Communications in a move that will help the group expand its operations in Nigeria, Africa’s populous market.
Founded in 2007, Visafone Communications is a product of an acquisition of 3 CDMA mobile network operators with over 30,000 subscribers and covering different parts of Nigeria. The firm offers mobile, fixed and various other telecommunications service to its now over 3 million subscribers in over 20 states and over 160 cities and towns in Nigeria.
Bloomberg reports, “MTN has been exploring acquisitions as it seeks to boost revenue from data outside South Africa, where Vodacom Group has more subscribers.”
The firm therefore seeks to add the 3 million subscribers from Visafone to its 60 million subscribers in to boost its position in the country.