Brymedia Consortium offers USD900million for Nitel
Brymedia Consortium is the latest company to make an offer for state-owned fixed line incumbent Nigeria Telecommunications (NITEL), after the most recent attempt to sell the ailing telco was cancelled earlier this year. One of the initial bidders for NITEL, Brymedia came third during the bidding process for the telco in February 2010, offering USD551 million for a 75% stake in NITEL (excluding itsCDMA network) and its mobile arm M-Tel. The consortium has now offered to pay USD900 million to acquire the telco, and – if successful in its bid – has pledged to put NITEL back on its feet within 18 months.
Related Posts
-
FCMB Bank (UK) Limited Launches Personal and Business Banking Proposition to Deepen InclusivenessFCMB Bank (UK) Limited, an independently incorporated subsidiary of...
- August 1, 2018
-
The Worrisome Trend of Sensational Social Media “Journalism” and the Impact On Legitimate Business Concerns: Recent Travails of FCMB, GTBank and First BankOn June 25, 2018 I woke up to yet...
- June 26, 2018
-
Azman Air commences flight operation in SokotoAzman Air Thursday commenced flight operation to Sokoto state....
- February 21, 2015
-
NRC increases Lagos goods trains, eyes fuel haulageThe Nigerian Railway Corporation says it has increased its...
- June 23, 2016
