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S.Africa Telkom to buy Nigerian Multilinks

March 22nd, 2007 · No Comments

LAGOS, March 21 (Reuters) - South Africa’s Telkom is in the final stages of talks with Nigeria’s Multilinks to acquire a 75 percent stake in the company for $200 million, Nigeria’s ThisDay newspaper reported on Wednesday.


Multilinks director Ezekiel Fatoye told Reuters the regulator Nigerian Communications Commission (NCC) had given “anticipatory approval” for talks with Telkom, but declined to give details about valuation.

“We have had talks with Telkom. Before talking you need to have anticipatory approval,” he said, adding that the valuation reported by ThisDay was “speculation”.

Nigeria liberalised its telecoms sector in 2001 and has seen explosive growth since then, particularly in the mobile GSM segment.

Multilinks operates a fixed wireless network on the CDMA platform in several Nigerian cities and last year acquired a unified licence to offer the full complement of roaming voice, Internet and data services.

Tags: Network Operators · Nigeria · South Africa

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