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Starcomms, Multilinks and MTS in N32 billion Merger

By on August 14, 2012

Three CDMA operators in the country, Starcomms, Multilinks and MTS are undergoing a business combination valued at $200 million or N32 billion.

The new network is to be called CAPCOM, according to a report from the Guardian.

According to the report the shareholders of the new group are, “MBC, 53 per cent shares; Middle East Capital Group, 25 per cent shares; while Helios Investment Partners has 11 per cent shares stakes. Others said to hold shares in the company include Oldonyo Laro Estate five per cent; Bridgehouse Capital Limited three per cent; Asset Management Company of Nigeria, two per cent and private equity investors with one per cent.”