Nitel

Nigeria approves sale of Nitel

The Nigerian government has approved the $2.5bn sale of a controlling stake in incumbent fixed line carrier Nitel to a consortium including China Unicom and Dubai investment group Minerva.

Nigeria sets two-month deadline on Nitel privatisation

Nigeria’s government has set a 60-day deadline for the privatisation of the state-owned incumbent telco Nitel, including mobile operation M-Tel. The announcement came on Monday as the Nigerian vice-president, Dr. Goodluck Jonathan, appointed a new board to the company to oversee its stabilisation.

Nitel sold for $750m

The Nigerian-based conglomerate Transnational – Transcorp – has bought Nigerian Telecommunications – Nitel – and its mobile subsidiary Mtel, for $750m. According to Transcorp, the deal represents a “milestone in the privatisation process of the dominant fixed-line operator”. Nitel currently holds close to 80 per cent of Nigeria’s domestic market with presence in all its […]

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