MTN in Visafone acquisition bid?

In a strategic move to strengthen its foothold on Nigeria’s burgeoning internet market, MTN Group is considering the acquisition of Visafone Communications Ltd Nigeria.

If the emerging media reports is anything to go by then it is the end of Code Division Multiple Access (CDMA) segment in the country.

The wireless network provider was founded by Nigerian businessman, former CEO of  Zenith Bank, Jim Ovia.

Visafone was incorporated in Nigeria on June 20, 2007 following the acquisition of Cellcom received its Unified Access Service Licence as a telecom operator from the Nigerian Communications Commission (NCC) on August 1, 2007 positioned it to offer mobile, fixed and any other telecommunications service to its subscribers.