Wednesday, February 17, 2010

The New Generations Telecoms buys NITEL for $2.5b


AFTER a rigorous bid which saw five consortia, jostling for the soul of Nigeria’s first National Telecommunications carrier, NITEL, the New Generations Telecommunications Consortium, yesterday, emerged winners of the new NITEL with a bid of $2.5 billion.

New Generations Telecommunications Consortium is the former Telefonica. The consortium included China Unicom (Hong Kong) Limited, Minerva Group of Dubai and local company GiCell Wireless Limited. Announcing the result of the bid, BPE’s Head, Public Communications, Mr. Chigbo Anichebe, revealed that Brymedia Consortium bided $551million for the whole of NITEL, while MTN Nigeria offered $25million for SAT-3 only.

1 comment:

  1. Thank God, the old is new again. How will you compete? I guess now the sale is over, so if you don't win one week, at least you could next .... Hope you come back into competing soon and when you do, I wish you the best ...

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