A Brighter Day For Nitel

To read the full article, please choose one of the following options:

Following the news that Nigeria had extended the bidding deadline for its telecoms incumbent Nitel, things were not looking good for the failing company, and doubts continued to circulate that a credible bidder would ever come forward. Now, however, news has emerged that home-grown and highly successful communications firm Globacom is interested in acquiring a controlling stake in Nitel and its mobile arm, Mtel. Media reports also state that the government claims to have had interest from a group comprised of firms from Russia, India, Malaysia and Libya, although it has not confirmed receiving firm bids.