The Nigerian Communications Commission (NCC) has given the final approval to the acquisition of Visafone Communications Limited, Nigeria’s surviving Code Division Multiple Access (CDMA) operator by MTN Nigeria.
The deal which was sanctioned in late December 2015 allows MTN Nigeria to utilize Visafone’s 800MHz spectrum to launch fourth generation long term evolution (4GLTE) services. Visafone is owned by Mr. Jim Ovia, one of Nigeria’s leading bankers, and technology investors. He also owns Cyberspace, an Internet Service Provider (ISP).
Visafone was formed in 2007 after acquiring the networks of Cell Communications, Independent Telecommunications Network (ITN) and Bordex Telecoms in Aba, Abia State. Under the plan, over two million existing Visafone subscribers will be migrated onto the MTN Nigeria network, a development that will now enable them use their voice and data services, anywhere where the latter has network coverage.
The acquisition of Visafone by MTN Nigeria, will largely contribute to mass sack in the CDMA firm as MTN will not be to absorb all the former staff the company.
