Mafab Communications is set to transfer key spectrum assets to MTN Nigeria, nearly five years after paying $273.6 million for a 5G spectrum licence. The proposed transaction involves Mafab's 2x20MHz holding in the 2.1GHz band and a 100MHz block in the 3.5GHz band, subject to regulatory approval. The consideration payable by MTN has not been disclosed. Mafab and MTN both won the Nigerian Communications Commission's 3.5GHz 5G spectrum auction in December 2021, each paying $273.6 million for 100MHz, with MTN paying an additional $15.9 million for the 3500–3600MHz block and Mafab assigned the 3700–3800MHz block.
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