TELECOMMUNICATIONS
More competition for MTN in Nigeria
MTN faces renewed competition in Nigeria, its biggest market, where a smaller competitor has set its sights on growing its network following a change in ownership. Teleology, a company backed by former MTN Nigeria CEO Adrian Wood, said it had paid a $50m deposit towards the acquisition of 9Mobile, the country’s fourth-biggest mobile operator, which was previously called Etisalat Nigeria. Etisalat Nigeria floundered under a hefty debt burden. Teleology said in a statement its deposit reflected its "financial capability and readiness to revive the organisation". Wood, a director at Teleology, said his company planned to double the size of 9Mobile’s network, with new 3G and 4G sites and "several thousand kilometres of fibre-optic cable across the country". Wood said Teleology had partnered with Safaricom, the East Africa-focused operator that is partly owned by Vodacom and which operates the M-Pesa mobile money business. Teleology wanted to increase 9Mobile’s employee base by 50%. The ...
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