Telkom to buy 75% stake in Multilinks

21 Mar 2007

South African telco Telkom is ready to buy a 75% stake in Nigerian public telephony operator (PTO) Multilinks for USD200 million, reports Nigerian newspaper This Day. The CEO of Multilinks, Ezekiel Fatoye, said that preliminary approval for the change in ownership had been granted by the Nigerian Communications Commission (NCC), and that the two companies expected to conclude talks within the next two months. The announcement has scotched recent rumours that Multilinks had been in talks with another South African operator Vodacom. Multilinks, one of Nigeria’s largest fixed wireless access (FWA) providers, was awarded a unified service licence in June 2006, allowing it to offer a range of voice, data and internet services. At the end of 2006 it claimed over 100,000 subscribers to its CDMA2000 1x network. This latest development follows the story earlier this year that another Nigerian PTO, VGC Communications, had been acquired by cellco MTN Nigeria for USD65 million.

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