Telkom South Africa, country’s largest fixed-line operator acquires the remaining 25% stake in Multi-Links Nigeria for $130 million. Telkom South Africa, which earlier had acquired 75% stake in Multi-Links for $285 million, with the remaining 25 per cent held by Kenston Investment. Telkom in total has now paid $415 million to own Multi-Links completely.
Telkom says that gaining total control over Multi-Links is an integral part of its business strategy in expansion of its base in the African continent. Chief Executive Officer of Telkom SA, Reuben September, said the company remains focused on pursuing growth by diversifying its revenue streams into African markets with high growth potential. He further said, the 100% ownership of Multi-Links, is in line with the broader investment criteria of the company and also provides it with an opportunity to expand its mobile capability.
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