MERGERS, ACQUISITIONS AND FINANCIAL RESULTS
NIGERIAN FIXED WIRELESS OPERATOR RECEIVES HUAWEI FACILITATED BANK LOAN
Nigeria-based private telecoms operator Reltelwireless Limited has secured a US$20mn (NGN2.6bn) facility from the China Development Bank, which will help the operator position itself as the largest fixed line operator in the country, ahead of the unification of licences by the Nigerian Communications Commission (NCC). Furthermore, Chinese telecoms equipment vendor Huawei Technologies through a vendor-finance agreement is said to be facilitating the loan.
Meanwhile, Reltelwireless also announced that it has reached an agreement with an unnamed Indian company, which has indicated its interest in investing US$55mn into the operator.
Reltelwireless has an installation capacity of 1.2mn subscribers, making it the largest fixed wireless operator in the country, where it has services in the key Nigerian cities of Lagos, Port Harcourt, Nnewi and Onitsha, with plans to commence operations in Abuja, Ibadan, Benin, Awka, Aba, Enugu and Abeokuta in the near future.
Business Monitor International