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Airtel Africa Finalizes 10 MHz Spectrum Acquisition In Nigeria For $94 Million
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Airtel Africa Finalizes 10 MHz Spectrum Acquisition In Nigeria For $94 Million

Mar 9 MT Newswires

Airtel Africa (AAF) on Monday finalized the acquisition of a 10 MHz spectrum in the 900 MHz band in Nigeria from Intercellular Nigeria for $94 million, according to a same-day filing.

The proceeds also include the Nigerian Communications Commission's fees, which approved the deal.

The additional spectrum will increase the available capacity of the existing network and support the further roll-out of 4G network, allow the telecommunications company to manage its CapEx for 4G network and enable the company to expand its fast-growing fixed wireless broadband offering.

Airtel Africa's shares fell about 4% at the end of trading on Friday.
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