MTN Nigeria is reportedly seeking to acquire Mafab Communications Limited’s $273.6 million 5G spectrum asset, with the proposed transaction awaiting regulatory approval.
According to THISDAY, discussions between the two companies are reportedly near conclusion. The deal would cover Mafab’s 2×20 MHz spectrum block in the 2.1 GHz band and its 100MHz holding in the 3.5 GHz band.
Mafab and MTN won 100MHz lots in Nigeria’s 5G spectrum auction in 2021, with each paying $273.6 million. While MTN launched its 5G network in September 2022 and Airtel followed in June 2023, Mafab has faced challenges in deploying its 5G service.
The proposed acquisition would give MTN additional spectrum capacity as demand for mobile data and 5G services continues to grow.
The transaction remains subject to approval by the Nigerian Communications Commission (NCC). MTN and the NCC had not confirmed the proposed deal at the time of the report.
Source : www.arise.tv
