Transcorp

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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