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NITEL Seeks New Investors for Carrier

29th April '08

Two years after the privatisation of the Nigerian Telecommunications (NITEL) by the Federal Government, its owners have begun another process of getting a new core investor for the national telecommunication carrier. Group Managing Director and Chief Executive Officer of Transcorp, Mr. Tom Iseghohi, made this known on Monday during an interactive session with journalists.

Iseghohi said under the proposed arrangement, both Transcorp, which presently has 51 percent shareholding in NITEL and the Federal Government which has 49 percent, would reduce their stakes in the company for the new core investor to have the majority shareholding.

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