Shares in Airtel Africa climbed 5.2 per cent to N1,630 per unit on Monday after the news hit the market
Airtel Nigeria on Monday announced the acquisition of 5G spectrum and an additional spectrum for its 4G network for a total sum of $316.7 million.
A strategic strand of a broader plan to boost Airtel Nigeria’s mobile data network as well as the power of its fixed wireless home broadband, the spectrum purchase raises Airtel Nigeria’s current capacity ahead of the rollout of 5G technology.The company seeks to gain the timely traction needed to earn itself a good place in the fifth-generation technology segment of Africa’s largest telecom market where two early birds secured operational licenses in 2021.
On Monday, shares in Airtel Africa climbed 5.2 per cent to N1,630 per unit on Lagos’ Customs Street at 13:28 WAT after the news hit the market, pushing its market value above N6.1 trillion, the biggest by any publicly traded company in the country.Airtel Nigeria gave up an early chance to run 5G technology in Nigeria when, in December 2021, big rival MTN Nigeria and Mafab Communications snapped up the two available permits at the premier auction arranged by the NCC.
say fewer than 44 per cent of the people have access to smartphones and sees the gap as a room to foster growth.
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