Uproar over the potential liquidation of Nigeria’s state-owned telcos has ensued, following accusation of collusion.
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’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.
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 [...]