MTN Nigeria acquires Visafone

MTNGROUPagreed to buy internet provider Visafone Communications of Nigeria to expand in Africa’s biggest economy even as the South African company awaits a local court ruling on a record $3.9 billion (R63.57bn) fine in its biggest market. The acquisition would ensure that “Nigerians experience a boost in the quality of broadband internet services” and data speeds, MTN Nigeria executive Amina Oyagbola said on Friday. Visafone offers voice as well as online services in Nigeria. MTN said on December 17 that it would ask a Lagos court to rule on the fine, imposed by the Nigerian telecoms regulator for failing to meet a deadline to disconnect 5.1 million unregistered subscribers. – Bloomberg