Airtel Africa has announced the acquisition of additional spectrum to expand its telecommunications network across Nigeria. The telecoms firm with a presence in 14 countries in the continent said its Nigerian subsidiary; Airtel Networks Limited (Airtel Nigeria) signed an agreement with Intercellular Nigeria Limited to acquire an additional 10 megahertz (MHz) spectrum in the 900 MHz band in Nigeria.
The new acquisition is valued at about $70 million, excluding the Nigeria Communication Commission fees in line with the telecom industry regulator’s trading guidelines. Airtel Africa disclosed this in a regulatory filing to its shareholders through the Nigerian Stock Exchange (NSE).
The company said the acquisition of the additional spectrum would allow Airtel Nigeria to expand its operations and strengthen its LTE network across Nigeria considered the largest market for Airtel Africa. The deal is however subject to regulatory approval by the NCC.
The latest acquisition aligns with the company’s plan to continue to dominate the tele-mobile communications space in the continent. Last August, the company unfolded plans to roll out its mobile money platform. The company said it was continuing its aggressive investment in its 4G network infrastructure, with nearly 1,500 additional sites across its operational locations, apparently preparatory to the roll out.