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MTN and Globacom among Nitel bidders
09 February 2010
MTN of South Africa and local operator Globacom are shortlisted for a 75% stake in the Nigerian state-owned incumbent
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Nitel
Nigeria
MTN
Globacom
Brymedia
Spectrum
Omen International
New Generation Telecommunications
South Africa’s MTN and Nigeria’s Globacom are among six companies that have been shortlisted to acquire Nigerian Telecommunication, the state-owned incumbent. The Nigerian government invited bids for Nitel and its mobile arm, M-Tel.
The winner of the auction will be declared on February 16, according to a statement by the Bureau of Public Enterprises.
Other bidders include Brymedia, Spectrum, Omen International and New Generation Telecommunications.
Investors must either buy 75% of Nitel’s equity or stakes in any of its units, which include a fixed-line network, a mobile unit, a national fibre-optic network and the Nigerian arm of an international fibre-optic system.
Nitel has lost business to rival private operators, including MTN, since 2000. A previous attempt to sell the company failed after Lagos-based investment firm, Transnational, failed to comply with sale conditions, BPE said. GTB