Three CDMA operators in the country, Starcomms, Multilinks and MTS are undergoing a business combination valued at $200 million. The new network is to be called CAPCOM.

The breakdown of the share structure will be as follows:  “MBC, 53 per cent shares; Middle East Capital Group, 25 per cent shares; while Helios Investment Partners has 11 per cent shares stakes. Others said to hold shares in the company include Oldonyo Laro Estate five per cent; Bridgehouse Capital Limited three per cent; Asset Management Company of Nigeria, two per cent and private equity investors with one per cent.”

This appears to be the only way for these companies to compete with the GSM companies.

This was first reported by The Guardian.