MTC confirms V-Mobile buy

18 Apr 2006

Kuwaiti telecom services provider MTC has confirmed that its African subsidiary Celtel has signed a conditional deal to buy 65% of Nigeria’s third largest cellco V-Mobile for just over USD1 billion. In a statement to the Kuwait Stock Exchange, MTC said the deal included an option for the future purchase of the outstanding equity of the company.

Nigeria, Airtel Nigeria, Celtel International, Zain Kuwait