Telkom agrees to sell Multi-Links to Helios Towers Nigeria

News Wireless South Africa 29 JUN 2011
Telkom agrees to sell Multi-Links to Helios Towers Nigeria
South Africa operator Telkom has agreed to sell its loss-making Nigerian unit Multi-Links to Helios Towers Nigeria for USD 10 million. HTN, which earlier sued Multi-Links for USD 252 million over an alleged contract breach for infrastructure services, will acquire full ownership and control of Multi-Links. Telkom will continue to provide interim operational funding to Multi-Links to enable completion of the transaction, which is expected in August. The company announced on 13 June it would stop funding Multi-Links after a deal to sell the CDMA business to Visafone Communications for USD 52 million failed. Telkom also agreed an additional payment if Helios sells Multi-Links or it assets before three years.

Categories:

Wireless

Companies:

Multi-Links,  Telkom,  Visafone,  Helios Towers

Countries:

South Africa

Tags:

CDMA, Network equipment, Wholesale, M&A buyouts & divestments

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SOUTH AFRICA 4 APR 2011

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