MTN BUYS VISAFONE
Nigeria’s biggest mobile operator, MTN, has completed its acquisition of Visafone, the only existing Code Division Multiple Access (CDMA) operator in the country.
The historic deal would see the MTN Group with operations in 21 countries not only incorporating Visafone’s 700 MHz spectrum, but its long term evolution (LTE) compliant spectrum acquired months back into it’s expanding network.
Under the terms of the transaction, inside sources doused fears of most staff of Visafone losing their jobs, saying that a large number of them will be retained and provisions are already worked out for those who may be termed surplus to requirement.
’Already nobody is owed salary…so making provisions for any possible job loss is a formality’’ the source stated.
Reports have it that Visafone has commenced reshuffling and realignment of its processes as part of plans to integrate system and staffers.
It was gathered that the grey areas in the negotiations that commenced in 2014 are all sorted out – and an official announcement of completion of the deal would soon be made.