MTN Nigeria to buy XS Broadband

13 Aug 2007

South African-owned cellco, MTN Nigeria, which according to TeleGeography’s GlobalComms database was the country’s largest at the end of March 2007 with 13.4 million subscribers, has agreed to acquire XS Broadband (formerly UBA Capital & Trust), a fixed wireless access (FWA) licensee owned by United Bank of Africa (UBA), Nigeria’s largest bank, in a deal worth up to NGN4 billion (USD32.1 million). XS has a FWA licence covering 24 states including Lagos. The purchase follows MTN’s USD65 million acquisition of FWA operator and unified access service licensee VGC Communications in January this year. Although details of the transaction in hand are guarded, it is known that MTN has sought assurances from the Nigerian Communications Commission (NCC) that the licence held by XS Broadband will be renewed.

Nigeria, MTN Nigeria