Airtel Nigeria set to acquire $70m Spectrum to improve LTE services
Airtel Nigeria is set to acquire an extra 10 MHz spectrum in the 900 MHZ band in the country the cost of which has been put at approximately $70 million.
As announced by Airtel Africa, its parent company, the proposed acquisition agreement was signed between Airtel Nigeria and Intercellular Nigeria Limited. The deal, however, is still awaiting regulatory approval by the Nigerian Communications Commission (NCC).
In a notice to the Nigerian Stock Exchange (NSE), Airtel Africa said the $70 million valuation for the spectrum excluded fees to be collected by the NCC in accordance with the NCC Spectrum Trading Guidelines.
Explaining a significant benefit of this deal, Airtel Africa noted that the acquisition of this additional spectrum would allow Airtel Nigeria to strengthen and expand its LTE network across the country.
According to an online platform, www.nigeriacommunicationsweek.com.ng, CEO of Airtel Africa, Raghunath Mandava, affirmed that the acquisition of the spectrum would enable his company to further deliver on its growth opportunity and continue to offer its Nigerian subscribers an improved user experience.
It would be recalled that Nigeria is Airtel Africa’s largest market and the revenue generated by Airtel Nigeria increased by 23 percent in the first six months of this year with data growth being the largest contributor.
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