Nigeria's Bureau of Public Enterprises (BPE) earlier this week said the National Council on Privatisation has given the green light to advertise a new call for Expressions of Interest (EOIs) by investors to secure a 51% stake in Nigerian Telecommunications Plc (NITEL), and its mobile division, MTEL.
This Day reports that BPE's head of communications, Chigbo Anichebe said prospective investors must be well established telecommunications operators with the appropriate technical, managerial and financial resources to take over the management of NITEL/MTEL from current managers, Transcorp.
In 2006 the Nigerian Federal Government sold 51% of its stake in NITEL/MTEL to Transcorp Plc and kept 49%.
The current shareholders mutually decided to re-structure the current shareholding and bring in a core investor who will buy a 51% stake in the company. The 51% will be contributed by both the Federal Government and Transcorp Plc.