Multinational telecommunication company, MTN has finally concluded its mega merger deal with Visaphone.
Sources confirmed that the grey areas in the negotiations that kick started in 2014 are all sorted out – and an official announcement of completion of the deal should hit town any moment from now.
Informants disclosed Visaphone has commenced
The exercise is said to have started late last year on the heels of the consummation of the merger with MTN in principle earlier in the year(2015).
Digs revealed that this move is in line with the merged companies behind the scene workings towards finalising the merger process, hopefully by the end of the first half of the year.
Inside sources further disclosed that, though it would be hard for MTN to retain all of Visaphone staffers in the ongoing process because of the issue of ‘’duplication of functions’’, a chunk of the work force would be retained.
Added information revealed that provisions are already worked out for those who may be termed surplus to requirement.
‘’already nobody is owed salary...so making provisions for any possible job loss is a formality’’ a source stated.
This latest merger sees the MTN Group with operations in 21 countries incorporate not only incorporating Visafone’s 700 MHz spectrum, but its long term evolution (LTE) compliant spectrum acquired months back into it’s expanding network