MTN, Africa’s biggest mobile phone company, has been exploring acquisitions as it seeks to boost revenue from data outside South Africa, where Vodacom Group Ltd. has more subscribers.
Johannesburg-based MTN had 59.9 million subscribers in Nigeria at the end of 2014, more than a quarter of its 223 million total across 22 countries. Visafone had about 2.2 million customers as of December, according to data compiled by the Nigerian Communications Commission.
“We will send a holding statement at the appropriate time,” Funmilayo Onajide, a spokeswoman for MTN’s Nigerian unit in Lagos, said in a text message on Thursday. Newsverge, a Nigerian news website, earlier reported the deal.
Culled from Bloomberg