MTN Moves to Acquire Mafab’s $273.6m 5G Spectrum as Discussions Intensify
Emma Okonji Mafab Communications Limited, backed by Nigerian businessman, Musbahu Muhammad Bashir, is planning to sell its $273.6 million 5G spectrum asset to MTN Nigeria, THISDAY investigation has revealed. Although
Nigerian businessman Musbahu Muhammad Bashir's company, Mafab Communications Limited, is reportedly in discussions to sell its $273.6 million 5G spectrum asset to MTN Nigeria. The potential acquisition is awaiting regulatory approval, industry sources told THISDAY. Mafab, backed by Bashir, won the 5G license auction alongside MTN in 2021 but has kept the spectrum unused since then.
The proposed deal would strengthen MTN's network capacity as demand for mobile data grows. Both MTN and NCC have not responded to inquiries for confirmation, as of press time.
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