MTN Acquires Visafone

MTN, Africa’s leading mobile phone operator, has
finally sealed the deal to acquire 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.
Though, MTN is yet to make official announcement
of the acquisition, but inside sources confirmed the
development to Daily Trust reporter.
Contrary to the initial report about the deal that
MTN is not taking along the purchase of the CDMA
company with its liabilities, sources said the
telecoms giant has acquired the staggering Visafone
with all its properties, including its spectrum and
liabilities.
SC: DailyTrust