Minerva Group to extend support to NITEL deal

UnicomChina Unicom Ltd has said that it has no information about the deal involving a $2.5 billion bid to acquire 75 per cent stakes in the Nigerian Telecommunications Limited (NITEL). The bid was announced by the Bureau of Public Enterprises (BPE) on Tuesday in which China Unicom is learnt to have shown a great deal of interest, according to reports published in the Financial Times.

Dr. Sophia Tso, the Deputy General Manager Corporate Communications of the company expressed ignorance about the deal. He added, “We’ve double checked with our head office and have not heard of the project."

The bid for the Nigerian Telecommunications Limited is claimed to be the largest ever privatisations in African history and it, if materializes, would be the highest-priced investments by China in the continent.

The Bureau of Public Enterprises had earlier claimed that many firms such as GiCell Wireless Limited of Nigeria, China Unicom and Minerva Group of United Arab Emirate (UAE) had shown interest in the bid through the New Generation consortium. But now an authorised representative of New Generation has said that China Unicom is part of the group as its technical partner.