MTN Nigeria to buy VGC Communications

4 Jan 2007

MTN Nigeria has concluded negotiations to purchase VGC Communications for USD70 million. VGC, also known as VGCCL, received a unified licence from the Nigerian Communications Commission (NCC) in August 2006, allowing it to provide fixed line and wireless telephony services nationwide. It has laid an ‘extensive’ fibre-optic cable network, and also provides internet services. VGC has a total of around 20,000 customers. GSM provider MTN Nigeria is the country’s mobile market leader, with 10.375 million subscribers at the end of September 2006.

Nigeria, MTN Nigeria,

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