MTN Telecommunications group reportedly planning to acquire Visafone

Media reports say that South Africa’s MTN Group Ltd. is in process of buying Nigerian wireless network provider, Visafone Communications Ltd., in order to aid in its expansion in Nigeria, its largest market. 

MTN is allegedly in talks to buy Nigerian telecommunication company, Visafone Communications Ltd.

This is probably due to the fact that Lagos-based Visafone had about 2.2 million customers as of December, according to the NCC, also because Vodacom has a larger market share in South Africa than MTN has.

MTN is Africa’s biggest mobile phone company, so, it always looking for ways to stay on top, it is therefore no surprise that it has been exploring acquisitions as it seeks to boost revenue from data outside South Africa.

For now, there have been no confirmation or denial from MTN, but Funmilayo Onajide, a spokeswoman for MTN’s Nigerian unit, has promised to keep the media updated.