BNP Paribas told to stop looking for Nitel core investor

20 Nov 2008

Local newspaper Thisday claims that the Bureau of Public Enterprise (BPE) has ordered BNP Paribas to stop working on the search for a core investor for Nitel. The BPE had hoped that an investor would be found by February 2009, but the government’s recent move in transferring part of its stake in Nitel to NigComSat, IILL and Nitel employees is said to have left the state in a weaker position in terms of further stake sales. ‘They [the BPE] are confused as to where they want to go at this time, hence the call on BNP Paribas to stop work’, said the newspaper’s source.

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.