NITEL: BPE stalls Transcorp, Vodacom talks

The consummation of talks between Transnational Corporation and Vodacom may have to wait until the Bureau of Pubic Enterprises decides which investor takes control of 24% stake in the Nigerian Telecommunications Limited.

By Everest Amaefule

1 Jun 2007

Transcorp, which had been offered 75% equity in NITEL on July 3, 2006 for $750m, ended up with 51% when it could not make full payment after a period of grace it granted by BPE.

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