MTN Moves to Acquire Mafab’s $273.6m 5G Spectrum as Discussions Intensify

Mafab Communications Limited, backed by Nigerian businessman Musbahu Muhammad Bashir, is planning to sell its $273.6 million 5G spectrum asset to MTN Nigeria, according to a THISDAY investigation. The discussions are reportedly almost concluded and awaiting regulatory approval. Mafab has kept the spectrum redundant for five years since winning the 5G license auction bid in 2021 alongside MTN Nigeria. The proposed transaction covers Mafab's 2x20 MHz Spectrum block in the 2.1 GHz band and its 100MHz holding in the 3.5GHz band. Neither MTN nor the Nigerian Communications Commission (NCC) had responded to media enquiries at press time.

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