MTN has acquired 100 per cent of Verizon South Africa (Pty) Ltd, a statement from MTN headquarters in South Africa says. The acquired firm is part of Verizon Communications Incorporation based in the United States.

Phuthuma Nhleko, MTN Group President and CEO, said, "We are pleased to announce this strategic acquisition, which will enhance MTN’s product offering to meet the diverse requirements of our customers."

According to the statement, the acquisition of Verizon Business South Africa will increase internet service provision in the region thus strengthening MTN’s presence. The acquisition is in line with MTN’s stated strategy to provide better communication services in all its markets.

John Doherty, Vice President Strategy and Finance, Verizon Business, said, "Effectively, this transaction is about focusing each company’s operations to better serve its core customers’ needs.

Similar transactions have been held before to acquire other MTN subsidiaries in Nigeria, Cameroon, Cyprus and Cote d’Ivoire.

The transaction therefore supports MTN’s strong customer focus and commitment to providing better services and a broad range of communication services beyond mobile services.

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