Nigerian billionaire and owner of Globacom (Glo) is lodging a $600 million(N119,400,000,000) takeover bid for Comium Cote d’Ivoire, a company that has been grappling with debt and cash flow problems.
If the deal goes through, Globacom will have succeeded in extending its brand presence in West Africa. Already, the mobile telecoms operator has operations in Nigeria, Ghana and Benin Republic. Globacom, which already owns an international carrier services licence in Cote d’Ivoire, reportedly plans to invest over $1 billion in upgrading Comium-CI’s network over three years.
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