NFS, holding company of Telecel mobile operations, has merged with Telecel Global (formerly Exxon Telecom), a global international carrier, the company said.
The merger will yield operating cost savings for Telecel operations subsidiaries of NFS, enable higher quality for their international telecommunication services, and expand the product offering in their markets.
In addition to the anticipated efficiencies, the transaction is expected to fuel the future growth of the larger combined entity.
Exxon Telecom, rebranded under Telecel Global earlier this month, will operate as the official international gateway for carrier services for NFS operations. The merger will enable Telecel Global to both expand its footprint across the African continent, as well as accelerate the growth of its global carrier business.
The merger will also pave the way for the launching later this year of the quadruple play operator in South Africa under Telecel brand, in addition to the closing of the acquisition talks currently underway with different mobile network operators across Africa.
NFS aims at growing both organically and through acquisitions to become a leading player over the African continent. The parties to the merger declined to disclose further details on the specifics of the merger agreement or their expansion plans.