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Nitel Fate Still Undecided

Posted on: 19/02/2006

Nigeria's state-run telecoms monopoly may be publicly floated if the consortium bidding for a 51% stake fails to pay. Potential buyers Investors International Limited (IIL) missed the payment deadline which the Bureau of Public Enterprises (BPE) then extended because there was no reserve bidder. IIL, led by Portugal Telecom (now itself the subject of a bid) paid an initial deposit in December but defaulted on the remainder, which was due 11 February.

News story posted by: BroadGroup

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