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China Unicom seeks 20% equity participation in NITEL

Lagos — The China Unicom (Hong Kong) Ltd, a member of the New Generation Consortium that won the bid for NITEL, has demanded 20 per cent equity holdings in the newly acquired company.

This is contained in a statement issued by Mr William So, President of the company, on Friday in Lagos.

So said the company would not only provide the technical and managerial support for the consortium, but was interested in the 20 per cent equity of the consortium on agreed terms.

According to the statement, the company also expressed its commitment to remain in the consortium after the bid. The BPE’s Head,Public Communications, Mr Chigbo Anichebe, said the bid remained as announced by the bureau.

The BPE had on Tuesday named New Generation Consortium as the preferred bidder for the 75 per cent equity holding of NITEL for 2.5 billion dollars (N375 billion).

NAN reports that the Omen International emerged the reserved bidder with a bid of 956 million dollars (N143.4 billion).


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