Nigeria’s Globacom sets its sights on Comium takeover

12 Sep 2013

Nigerian integrated telecoms firm Globacom has set its sights on struggling Ivorian cellco Comium Cote d’Ivoire, Agence Ecofin reports, quoting a source close to the company’s owner, Dr Michael Adenuga. The telecoms tycoon is said to consider the company a ‘very attractive’ prospect, despite its CFA60 billion (USD120.9 million) debt pile. Earlier this week it was revealed that Indian mobile giant Bharti Airtel had entered into discussions with Nizar Dalloul, the Lebanese founder of the Comium Group, regarding a possible takeover.

According to TeleGeography’s GlobalComms Database, Globacom has long coveted a position in the Ivorian mobile sector. In September 2009, yet-to-launch Aircom – which was granted an operating concession in August 2000 – was forced to fend off an acquisition approach from Globacom after questions were raised over its future plans; Aircom went on to launch in January 2012. Meanwhile, in November 2009 Globacom obtained an operating licence allowing it to provide international carrier services for local telcos, aggregating and carrying voice and data traffic into and out of the country.

Côte d'Ivoire, Comium Cote d'Ivoire (Koz), Comium Group, Globacom (Glo Nigeria)