KUWAIT—Telecom company Mobile Telecommunications Co. said that its African subsidiary, Celtel, has signed a conditional deal to buy 65 percent of Nigeria’s Vmobile for about $1 billion.
MTC added that the agreement included an option for the purchase of the remaining 35 percent of Vmobile, which has more than 5 million subscribers.
Kuwait-based MTC operates in six Middle Eastern and 13 sub-Saharan African countries and provides mobile and data services to more than 15 million customers. In Kuwait and Bahrain, the company operates as mtc-vodafone.
