NATCOM acquires Nigeria's NITEL and MTEL for $252.5M

NITEL headquarters, Abuja, Nigeria

Nigerian government makes progress in latest attempt to privatise incumbent telco and its mobile unit Mtel.

Investment vehicle NATCOM has emerged as the successful bidder for Nigerian incumbent Nitel and its mobile unit Mtel, after offering $252.5 million.

Read more: NATCOM consortium gets Nitel nod with $252.5m bid.