Global Fleet eyes Nitel

12 Jan 2006

According to allAfrica.com, Mr. Ibrahim Jimoh, the chairman of Global Fleet Group, is looking to acquire national carrier Nitel. Egypt’s Orascom consortium was due to buy Nitel for USD256.5 million, but the offer was deemed too low and the sale called off. Jimoh has been looking to acquire VGC Communications, a limited liability company licensed by the Nigerian Communications Commission (NCC) to provide cabling and radio telephone services nationwide, but sees Nitel as a more attractive option.

In a separate story, Nigeria’s first city-wide wireless internet network, CT Access, has been launched. Owned by the Abuja Investment and Property Development Company (AIPDC, 20%) and Suburban Broadband (80%), the company has pledged to invest USD5 million into the venture.