MTN acquires Verizon South Africa (South Africa)

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MTN acquires Verizon South Africa (South Africa)

July 15, 2008

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South Africa's MTN has acquired Verizon South Africa, an internet service provider that is majority owned by US-based Verizon Communications. According to the terms of the agreement, MTN will acquire 100 per cent of Verizon South Africa at an estimated $176 million, which will increase MTN's products and services beyond its mobile business and open an opportunity for it to offer bundled services such as packaged email and internet to its corporate clients.