Nigerian business tycoon Jim Ovia to sell Visafone to South Africa's MTN

Jim Ovia, Founder, Visafone and Zenith Bank

Africa’s largest telecoms operator MTN Group is in talks to buy Nigeria‘s Visafone Communications to solidify its grip in the South African firm’s most important market, sources familiar with the discussions said on Friday.

Wireless-network operator Visafone was set up eight years ago to deliver voice and broadband services through mobile and fixed telecom platforms after business tycoon Jim Ovia, who also founded Zenith Bank, acquired three operators.

"The deal is done. We’re almost putting ink to paper," a source close to the deal said.

Read more: South Africa's MTN to buy Nigeria's Visafone -sources | Reuters.

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