MTN $220 million acquistion of Visafone

Overview:

• MTN Nigeria has committed to buy 100% of the shareholding of domestic internet provider Visafone for a fee reported to be in the region of $220 million. 
• Visafone is the only such licensed network in Nigeria, and together with its 4g network it would significantly improve the offering of MTN in Nigeria. 
• Following the closure of the deal in late 2015, the competition regulator has cast doubts over the deal and it remains in the balance as to whether it will be finalised. 
• The deal may go through without the company's broadband spectrum. 

John Crabb - Journalist