Dr. Mike Adenuga has made overtures to the federal government to acquire the state-owned telecommunications company, NITEL for $450 million in a last ditch effort to sell the troubled telecom firm
Adenuga, who is the executive chairman of the country’s second largest telecom operator by subscriber base, Globacom Limited, is said to have made an initial offer of $450 million for controlling interest in NITEL, with a commitment to inject an undisclosed amount as working capital into the company to revamp and upgrade its network.
Adenuga is also said to have informed the presidency in the letter that NITEL will not be acquired by Globacom, but by a special purpose vehicle which will run distinctly from Globacom.
Money pass money! But why not buy NEPA???
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