MTNL puts in EoI for Nigerian Telecom, to appoint consultant

Last Updated: Thursday, September 3, 2009 - 18:31

New Delhi: Mahanagar Telephone Nigam Ltd has
put in an initial bid to buy majority stake in Nigerian
Telecommunications Ltd or Nitel and will appoint a consultant
to advise on the acquisition.

The state-owned telecom operator has put in an expression
of interest for 75 per cent stake in Nitel. "We will appoint a
consultant soon to do the due diligence, we expect the data
room of the company (Nitel) to be opened immediately," Anita
Soni, MTNL director, finance, told agency.
A senior MTNL official said the consultant will evaluate
the rationale of putting in financial bids for Nitel, which
has both fixed-line and mobile operations (both GSM & CDMA)...

As many 13 other initial bidders are already in the fray
including South African MTN, UAE`s Etisalat and Telefonica.
The deadline for submitting financial bids is October 2.

Nigeria Bureau of Public Enterprises (BPE) said an
evaluation committee has been set up to assess the bids
submitted by the 13 companies.
"The consortia that are pre-qualified for the next stage
are expected to pay a non-refundable fee of USD 25,000 for
bidding documents and execute the confidentiality and
non-disclosure agreement, the Bureau said in a statement.

Bureau Report



First Published: Thursday, September 3, 2009 - 18:31
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