Telkom sells Multi-Links CDMA business to Visafone

News Wireless South Africa 4 APR 2011
Telkom sells Multi-Links CDMA business to Visafone
South African operator Telkom agreed to sell the CDMA business of its Nigerian unit Multi-Links to Visafone for an enterprise value of USD 52 million. The proceeds for Telkom will be net of the existing liabilities of the business. The sale follows the Telkom board's mandate to review options for exiting the loss-making CDMA operation. The transaction still depends on regulatory approvals. Upon closing, Telkom will retain Multi-Links' fibre network and fixed-line operations in Nigeria. According to figures from the Nigerian Communications Commission, Visafone is the largest of the country's CDMA operators with 2.56 million customers at the end of 2010, followed by Multi-Links with 1.45 million.

Categories:

Wireless

Companies:

Multi-Links,  Telkom,  Visafone

Countries:

South Africa

Tags:

Voice services, CDMA, Wholesale, M&A buyouts & divestments

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