NITEL UP FOR SALE AGAIN.

BUSINESS

Liquidators have said that the Federal Government is seeking buyers for the distressed Nigerian Telecommunications Limited, NITEL..

The Government opted to wind up NITEL in March this year after almost a decade of struggling to sell it due to the symbolic state of its fixed assets and high level of debts despite Nigeria having one of the highest level of the world’s fastest growing telecoms market.

The liquidators appointed by the National Council on Privitisation said that it wanted bidders with five years telecoms experience and a net worth of at least $200million and bids must be submitted latest by 4pm of June 30.

It added that assets would be handed over to successful bidder in December.

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