My Naija News - NITEL to Get Core Investor in December

You are here:Home

NITEL to Get Core Investor in December

Written by Adeleke Afolayan

Friday, 01 August 2008

Chairman of the Technical Committee of the National Council on Privatisation Mohammed Hayatudeen has disclosed that a core investor for the Nigerian Telecommunications Limited would be named in December barring any unforseen circumstances.

Hayatudeen made this known while opening bids for the selection of a new Privatisation Adviser for the outfit, adding that the NCB is trying to as quickly as possible conclude the process and avoid further decline of NITEL/M-Tel assets.

He added that the FG and management of Transcorp would work tirelessly to resolve all outstanding issues that could stall a successful privatisation of NITEL; earlier the Director General of the Bureau of Public Enterprises Irene Chigbue said the BPE would take up all necessary issues including the recent appointment of a new Managing Director with the Transcorp management, without following due process.

On the engagement of Privatisation Advisers, he said four consortia; Lazard/Vetiva, Renaissance/BGL, BNP Paribas and Rothschild/UBA, met the minimum standard set by the NCP. BNP Paribas recorded the highest mark with 82.4% though had the lowest financial proposal of $3.5m.

Quote this article on your site | Print | E-mail

Be first to comment this article

Write Comment

Please keep the topic of messages relevant to the subject of the article. Personal verbal attacks will be deleted. Please don't use comments to plug your web site. Such material will be removed. Just ensure to Refresh your browser for a new security code to be displayed prior to clicking on the 'Send' button. Keep in mind that the above process only applies if you simply entered the wrong security code.
Name:
E-mail
Title:
Comment:
Code:*
	I wish to be contacted by email regarding additional comments

< Prev		Next >

[ Back ]