Business FG Nigeria Woos Bidders for NITEL - Mobile World Mag


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The federal government of Nigeria is seeking buyers for the assets of the distressed Nigerian Telecommunications Limited (NITEL) and Nigerian Mobile Telecommunications Limited (MTEL).

In its attempt to achieve, the government has appointed liquidators for the exercise as announced by the Bureau of Public Enterprises (BPE) last Tuesday.

Nigeria finally opted to wind up NITEL in March after almost a decade of struggling to sell it, due to the shambolic state of its fixed lines and high levels of debt. This is despite the fact that the country has one of the world’s fastest-growing telecoms markets.

The BPE said in an advertorial that it wanted bidders with five years of telecom experience and a net worth of at least $200 million.It said bids must be submitted on June 30, adding that the assets would be handed over to the preferred bidders in December.

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Source: Mobile World Mag