New NITEL owners to be revealed in April 2009

29 Sep 2008

According to the Nigerian Tribune, the new owners of beleagured operator Nigerian Telecommunications (NITEL) will take over the company on 29 May 2009 after their identity is revealed in April. The newspaper says the timetable was disclosed at a briefing in Abuja by Irene Chigbue, Director General of the Bureau of Public Enterprises (BPE). In August 2005 local firm Transcorp paid USD500 million for a 51% stake in NITEL, but it is has failed to revive the operator’s fortunes.

Nigeria, ntel (formerly NITEL/M-Tel)