China Unicom denies involvement in NITEL bid

18 Feb 2010

China Unicom has denied that it or its state-run parent Unicom Group has any involvement in a USD2.5 billion bid for struggling incumbent telco Nigerian Telecommunications (NITEL), Reuters reports. ‘There is no involvement of this project from the parent company, the listed company or any subsidiary of the company,’ Unicom spokeswoman Sophia Tso said in a statement. As reported by CommsUpdate, Nigeria’s Bureau of Public Enterprises (BPE) announced on 16 February that New Generation Telecommunications, a consortium involving China Unicom, had become the preferred buyer for a minimum 75% stake in NITEL after beating four other firms with a bid of USD2.5 billion. Other companies with an interest in New Generation were named by the BPE as Dubai-based Minerva Group and local company GiCell Wireless. The reserve bidder was announced as Omen International (BVI), which offered USD956 million.

Nigeria, China Unicom, ntel (formerly NITEL/M-Tel)