The Nigerian Communications Commission (NCC) has approved a request by CDMA operator Visafone Communications to transfer 100% of its shares and subscriber base to MTN, following its acquisition by the South African firm late last year. ‘The NCC, in line with its procedure granted a Final-Approval to Visafone for the change in its shareholding structure,’ Reuters cites a statement from the Nigerian regulator as saying. According to the NCC, Visafone also applied to transfer its spectrum licence to MTN, but this has not yet been approved.
In December last year MTN finalised the acquisition of Lagos-based Visafone for approximately USD240 million and began migrating Visafone’s roughly 2.1 million subscribers onto its own GSM network, with a view to using the 800MHz spectrum to roll out LTE in selected cities. However, the NCC has now clarified that it has not yet made a decision on whether to approve the transfer of Visafone’s spectrum licence to mobile market leader MTN.