In a bid to position itself as the fourth largest telecoms operator in Nigeria by 2012, Visafone has acquired Multi-Links-Telkom’s CDMA business in Nigeria for $52 million (about N8.1 billion) reports ITRealms.
Last November, Multi-Links-Telkom announced that it was winding-up from the Nigerian telecommunications market in phases, as a result of lack of profit from its investments in the entire Nigerian operation in 2007 when it acquired it for $410 million.
According to ITRealms, Multi-links Telkom Nigeria is quitting its CDMA operations in Nigeria due to continued operating losses, despite reducing cost measures taken by the management of the firm to shore up profit.
On the other hand, Visafone, a wholly-owned Nigerian company which was licensed by the Nigerian Communications Commission (NCC) in August 2007 was birthed from the strategic acquisition of three CDMA mobile network operators.
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