MTN buys Verizon South Africa

South Africa-based mobile operator MTN has agreed to buy 100% of corporate internet service provider Verizon South Africa, which is currently owned by US-based Verizon Communications (70%) and local group Jay & Jayendra (30%). The financial terms of the agreement were not disclosed. Verizon South Africa provides data/internet services to corporate customers in South Africa, and via subsidiaries in Namibia, Botswana, Zambia and Kenya.