South Africa's Telkom sells CDMA business of Nigerian unit Multi-Links.

By bne IntelliNews April 4, 2011
South Africa's telephone group Telkom said it has entered into a binding agreement to sell the CDMA business of its Nigerian unit Multi-Links Telecommunications to Visafone. The buyer will pay an enterprise value of USD 52mn for the business via a number of transaction steps. The proceeds for Telkom will be net of the existing liabilities of Multi-Links CDMA business, the seller said in a statement The transaction is conditional on regulatory approvals. Upon the closing of the transaction, Telkom will retain Multi-Links' fibre network and fixed line operations in Nigeria.

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