Nigeria: Firm Buys Stake in MTI to Expand Rural Broadband

11 June 2014

Nigerian mobile-phone manufacturer, Tingo Mobile, has agreed to buy a majority stake in Mass Telecom Innovation Nigeria Plc (MTI) for about N4 billion ($25 million) to develop rural broadband in the country.

Tingo will acquire 51 per cent of cable-network operator MTI, Chief Executive Officer, Dozy Mmobuozi told Bloomberg in an interview in Lagos yesterday.

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