Posted by Reuters on
A bid vehicle formed by local cellular operator Vodacom and UK-based Virgin to buy a stake in Nigeria's V-Mobile has expired, and Vodacom is keen to pursue the investment on its own, according to a V-Mobile board member.
A bid vehicle formed by local cellular operator Vodacom and UK-based Virgin to buy a stake in Nigeria's V-Mobile has expired, and Vodacom is keen to pursue the investment on its own, according to a V-Mobile board member.
Virgin bid with Vodacom for a controlling stake in Nigeria's third-largest cellular operator earlier this year in a move to give both companies access to one of the world's fastest-growing telecommunications markets.
A spokesperson for Virgin said the company remained committed to working with Vodacom to bid for V-Mobile for the time being.
"We are awaiting a decision from the owners of V-Mobile over the bid, which has still not been forthcoming, and we will be considering our position over the next few weeks."
- Reuters