Nigerian consortium Brymedia has launched a bid to acquire the assets of state-owned Nitel, three years after it participated in a failed bid for the telco, according to local title ThisDay.
Brymedia is currently in talks with the liquidation manager…
Nigerian consortium Brymedia has launched a bid to acquire the assets of state-owned Nitel, three years after it participated in a failed bid for the telco, according to local title ThisDay.
Brymedia is currently in talks with the liquidation manager appointed by the country’s Bureau of Public Enterprise (BPE) last year to oversee the restructuring of the indebted company.
Brymedia CEO Adrian Wood was quoted saying that Nitel remains “viable” because of its assets, such as its GSM and transmission towers and its technical properties. However, he did not disclose the value of its bid.
The consortium had reportedly made a US$900m offer in the unsuccessful privatisation of Nitel in 2010.
In the past, the government tried on several occasions to privatise the struggling operator and its mobile subsidiary M-Tel. In early 2013, the NCP decided to sell the company again via a liquidation route.
A few months later, in July, three companies were reportedly invited to bid for Nitel after scoring 75% and above in terms of requirements for the acquisition. At the time, the names of the suitors had not been disclosed.
Separately, Brymedia is to also bid in the country’s planned 2.3GHz frequency spectrum auction alongside several other operators, including MainOne and Glo Mobile, the report stated.
The winner of the auction, which could take place in March, stands to become the wholesale broadband service provider for the Nigerian telecoms market.
Brymedia, Nitel and BPE could not be reached for a comment.
