Government seeks advisors for NITEL sale

2 Jun 2008

Balancing Act reports that the Nigerian government has approved the issuing of a ‘Request For Proposals’ (RFP) to eleven candidates for the position of advisor for the sale of ailing incumbent Nigerian Telecoms (NITEL). Existing owners Transcorp and the government, have agreed that both should sell a total controlling share of 51% to a new strategic investor; Transcorp is offering up 29% of the company, while the government will part with 22%. The winner of the advisory job will be expected to review, evaluate and market the telco. Fifteen consortia have applied to the Bureau for Public Enterprises (BPE), including Lazard/Vetiva, Rothschild/UBA, Renaissance Capital, Millennium Finance, Awoyinfa Obafunsho &Co, CPCS Transcom, Lead Capital/Investec, FCMB/Morgan Stanley, International/HSBC, Merrill Lynch/BGL and BNP Paribas.

Nigeria,ntel (formerly NITEL/M-Tel),


Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate


Have feedback, corrections, or story ideas? Send them to

Browse Past Issues


Filter CommsUpdate by the following categories or use the search.


Visit our help page information on performing advanced searches, including how to restrict the results by country or company.


CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.