The MTN group has concluded the acquisition of Visafone Communications Limited, a Nigerian mobile phone company, Technology Times reports. The South African group has received the final approval of the federal government, paving the way for MTN's purchase of Visafone's CDMA network.
Regulatory approvals are required for the transfer of shareholdings, frequency spectrum and other licences granted by government.
The Nigerian Communications Commission (NCC) approved the deal in the last quarter of 2015. The acquisition is expected to increase deployment of broadband services across the country. Over two million existing Visafone subscribers will be migrated onto the MTN Nigeria network, a development that will now enable them use their voice and data services.