MTN, Africa’s leading mobile phone operator, has acquired Visafone, the only surviving Code Division Multiple Access (CDMA) operator in Nigeria, owned by the banking magnate, Mr. Jim Ovia.
The acquisition of Visafone, the only surviving CDMA operator in Nigeria, by MTN, a GSM operator, marks the final death of CDMA operations in Africa’s largest economy.
Smart as ever though, MTN is not taking along the purchase of the CDMA company with its liabilities. Rather, the mobile operator is only taking Visafone’s 700 MHz spectrum. But that is not all; the LTE-compliant spectrum acquired by Visafone just 15 months ago is also in the kitty for MTN in the deal.
Actually, persons familiar with the deal told IT & Telecom Digest that MTN is acquiring all those spectrum held by Visafone as a result of its preparation to launch and play big on Long Term Evolution, the all Internet Protocol.
Within the MTN hierarchy the deal is still being guarded as top secret with little or no information being let out. Someone with insider information but who cannot be named said:
“You know MTN is a quoted company. So don’t expect them to give you any official information until the deal is finally consummated and they can issue a formal statement. If you expect anything beyond this, I would say you’re not being fair to those you are contacting.
But take it from me, and I know what I’m saying: the deal is through; they’re only putting the final finishing touches together before a formal announcement is made.” Read more
Follow us @sabinewsnaija