????????

NATCOM Consortium has paid USD 75.7 million of the USD 252.5 million bid price for Nigeria Telecommunications Plc (NITEL) and its mobile arm, Nigerian Mobile Telecommunication (MTEL).

The payment was announced by Nigeria’s Bureau of Public Enterprises (BPE) on Thursday in a statement released by BPE.

According to the statement released by BPE’s Head of Public Communications, Chigbo Aniechebe, the payment by NATCOM Consortium “is in line with the offer letter by the Bureau of Public Enterprises (BPE) to the preferred bidder which mandates NATCOM to make an initial deposit of 30% of the bid price not later than 14 days on receipt of the offer letter… With the payment of the 30%, Natcom is expected to pay the balance of 70% of the bid price within 90 days.”

NATCOM Consortium is run by Olatunde Ayeni, Chairman of the Board of Skye Bank, and he had earlier stated that his organization is capable of making NITEL and MTEL leading telecommunication outfits in Nigeria.

 

Read this next

Come February 28, 2015, Google will shut down Woza, its free website tool designed to give start-ups and small businesses, “The opportunity to create their own websites… and develop an online presence — for free, and in under an hour.”

More From TC

My Life In Tech is putting human faces to some of the innovative startups, investments and policy formations driving the technology sector across Africa. A tragic 1980 novel by Sidney Sheldon, Rage of Angels, is all it took for Odunoluwa Longe to decide she wanted to pursue a career in law. The novel’s stunning protagonist, […]

Another Friday, another edition of the TechCabal Quiz. Last week, we asked what type of tech boss you are and we got all your responses. Today, we want to find out how well you read us this week. As always, let us know how you get on and share this among your friends. Have a […]

Battlefield, Business, Funding
6th December 2019

Ten startups have been announced as winners of the Seedstars Summit Africa 2019. Held in Johannesburg, South Africa, the summit is a competition for startups from different countries in Africa. First emerging through pitch contests and mentoring in over 20 African countries, the participating startups got their chance to pitch to an audience that included […]


TechCabal is a Big Cabal Media brand



Copyright © 2019
All rights reserved

Privacy & Terms