Telkom says it could still bid for Nitel

6 Feb 2006

Telkom South Africa has said that it is still keen to bid for the government’s 51% stake in Nigerian fixed line operator Nitel, despite having pulled out of the process last December, citing unspecified ‘serious problems’. The sale collapsed shortly after, when the highest offer failed to meet the reserve price. Telkom has now revealed that the main problem was a lack of transparency over Nitel’s debts, with spokeswoman Lulu Letlape saying that ‘if this issue is sorted out, Telkom is still very interested in Nitel’. Nigerian Finance Minister Ngozi Okonjo-Iweala said that the government was addressing the issue and is keen for Telkom to join the tender.

Nigeria,Telkom South Africa, ntel (formerly NITEL/M-Tel),

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