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Natcom wins Nitel takeover with bid of USD 252 mln

2014-12-04 08:32:00| Telecompaper Headlines

(Telecompaper) The Natcom consortium has won the bidding to acquire Nigerian Telecommunications (Nitel) and its mobile unit Mtel with an offer of USD 252.5 million. The preferred bidder must still get the approval of the National Council on Privatisation (NCP) and be able pay the sum within a specified time to seal the deal, CommunicationsWeek reported. If all the conditions are met, the transaction would mark an end to years of attempts to privatize Nitel. The Nettag consortium, the other group qualified for the bidding, was disqualified for failure to enclose a bid bond stipulated by the Bureau of Public Enterprises. The government had initially rejected a USD 221 million bid from Natcom before the company increased the bid to USD 252 million. Natcom's shareholders include Natspace Telecommunication Investment, PCCW Global and Prime Union Investment. Other members of the consortium are Prime Union Investment, Olutoyl Estate Development & Services, Sahara Energy Resources, Legal Resources Alliance & Co and Ericsson Nigeria.

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Amazon's bid to power the internet

2014-12-04 01:09:36| BBC News | Business | UK Edition

Why the cloud may eclipse Amazon's online store

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NATCOM consortium gets Nitel nod with $252.5m bid

2014-12-04 01:00:00| Total Telecom industry news

Nigerian government makes progress in latest attempt to privatise incumbent telco and its mobile unit Mtel.

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Railroad to bid bridge work

2014-12-03 07:09:10| Railroads - Topix.net

A second track from Joliet to Dwight means the single-track railroad bridge over the Kankakee River has to be addressed. Bridge work will be bid next month.

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Dos Santos launches bid for Portugal Telecom SGPS

2014-12-02 00:22:36| Telecom - Topix.net

The bid made by the daughter of Angola's president is intended to thwart the sale by Brazil's Oi Oi acquired the Portuguese telecoms assets through a merger with Portugal Telecom. Through that merger, the Lisbon-listed holding company Portugal Telecom SGPS' only real asset is a stake of about 26 percent in Oi, which dos Santos hopes would be sufficient to block the sale of PT's assets to others.

Tags: dos portugal bid telecom

 

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