Etisalat in talks to buy Multi-Links in Nigeria
South Africa’s Telkom is reportedly in talks with UAE based Etisalat over the sale of its Nigerian CDMA network, Multi-Links.
Telkom previously stated that it was looking to sell the Nigerian subsidiary, and Etisalat already owns an existing GSM and 3G license in the country.
According to reports citing a report by the Communications Workers Union (CWU), an option to sell 80% of the company to Etisalat was initially rejected by Telkom, but that talks are still continuing.
According to company’s executive, in the interim, it is common knowledge to the entire company that Multi-Links acting Chief Executive and acting CSMO (chief sales and marketing officer) are involved in discussions with Etisalat regarding the merger/sale due to the absence of viability of the company. This absence of viability was totally created and is still being engineered by them.
Telkom SA brought a 75% stake in the Nigerian mobile network operator in 2007 for US$280 million, and took full ownership in 200 for US$130 million.
Multi-Links provide fixed, mobile, data and international communications services in Nigeria.