Nigerian president Goodluck Jonathan has reportedly decided to adopt a ‘willing seller, willing buyer’ approach for the privatisation of telecoms incumbent Nitel, after the last process was cancelled in June, according to Telegeography, quoting local…
Nigerian president Goodluck Jonathan has reportedly decided to adopt a ‘willing seller, willing buyer’ approach for the privatisation of telecoms incumbent Nitel, after the last process was cancelled in June, according to Telegeography, quoting local media.
The privatisation agency, the Bureau of Public Enterprises (BPE), had reportedly submitted three recommendations for the sale: The liquidation of the company, the ‘willing seller, willing buyer’ model and the launch of a new process.
The president has reportedly chosen the second option as it would be faster and easier from a logistical point of view.
Last month, the sale of 75% of Nitel was shelved after the reserve bidder, a consortium of China Unicom and Fiber Home Technologies, failed to make the first US$105m payment on the 15 June deadline. The consortium had emerged as the reserve bidder with an offer at US$956m, after the frontrunner missed several payment deadlines last year.
BNP Paribas and Eledas Capital Partners were advising the authorities.
