Globacom interested in acquiring Nitel in Nigeria, Glo One to arrive September 09


Globalcom Limited on Monday confirmed its interest in acquiring Nitel saying it wants to save the nation's asset from collapsing rather than creating monopoly in the sector.

Chief operating officer of Globacom Jameel Mohammed who stated this during an interactive session with media executives in Lagos on Monday said what is happening to Nitel now required sober reflection emphasizing that the chairman of Globacom, Mike Adenuga Jr is willing and ready to turn around the ailing Nitel if given opportunity to do so.

The federal government last month withdrew Nitel from Transcorp ownership over its failure to inject the required funds within 100 days of the sale and also lack international technical partner to run Nitel.

"We are bidding for Nitel because of its infrastructure. Our Chairman is passionate about this. He does not want the company to collapse. He sees it as his responsibility to safe Nitel from imminent collapse. If we are given the chance, Nitel will be turned around and we will create a balanced network", Mohammed said.

Mohammed however ruled out the possibility of the creation of monopoly market once Globacom acquired Nitel. "It is not in our agenda to monopolize the market. It will even be a challenge for us to turn around the company to international standard but are ready to take up the challenge", he said

As part of the company's expansion process, Mohammed confirmed that the organization is laying a $800 million marine cable from London, passing through 9,037 kilometres to Nigeria. The cable, he said would arrive Nigeria in September. Daily Trust