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MTN Acquires Visafone

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MTN which is a South Africa owned telecommunication company with presence in many African countries including Nigeria has acquired Visafone Communication after receiving the Nigerian’s federal government approval.

The deal for the acquisition of Vodafone started late 2015 when the Nigerian Communications Commission (NCC) approved the transaction making it possible for both companies to sign off the deal.

According to the sources abreast with the happenings, the approval for the acquisition of Visafone by MTN was given by NCC in the last quarter of 2015 when it became clear to the regulating body that the deal would create would enhance the use of broadband services throughout the country.

According to undisclosed sources, the deal has been signed even though both companies have remained silent about it. There is a strong indication that all Visafone subscribers numbering more than 2 million will be moved to MTN Nigeria network. At the completion of the move, the Visafone subscribers would be able to utilize¬† MTN’s voice and data services wherever there MTN network coverage.

Visafone Communication Limited was established by Mr. Jim Ovia, a well known banker that helped Zenith Bank to get to the level where it is now. The company is a leader in the Code Division and Multiple Acess (CDMA) network. The integration of its 800MHz spectrum frequency into MTN network will definitely improve the quality of voice and broadband data services offered by MTN.

According to our source, MTN was attracted to Visafone following Visafone’s plan to introduce 4G LTE services into its services to boost voice, data and video play.