As part of efforts to expand its internet services, Airtel Nigeria has acquired another 10 MHz spectrum in the 900MHz band in Nigeria belonging to Intercellular Nigeria Limited for $70 million, the telecom company disclosed in a release sent to the Nigerian Stock Exchange (NSE) on Thursday.
It explained the $70 million paid for the deal excluded NCC fee, adding that the acquisition would allow it to expand and strengthen its LTE network across the country.
The telco whose largest market is Nigeria, explained that the deal was subject to the approval of the Nigerian Communications Commission (NCC).
“Data is a key pillar of our growth strategy, driven by increasing 4G networks and supported by the increased affordability and increasing penetration of smartphones. With an overall smartphone penetration of more than 35 per cent and data consumption growing by 92 per cent in the six months period ended 30 September 2019, Nigeria presents a significant growth opportunity in data. The acquisition of this spectrum will enable us to further deliver on this growth opportunity and continue to offer our Nigerian customers an enhanced use experience,” Raghunath Mandava, Airtel Africa CEO, asserted.
Airtel Africa is Africa’s second largest telecom operator by number of active subscribers.