Brymedia revives NITEL interest

Mergers, Acquisitions and Financial Results

Brymedia has renewed its interest in acquiring the assets of fixed line incumbent Nigeria Telecommunications (NITEL) as the ailing telco undergoes liquidation, Brymedia’s CEO Adrian Wood told local newspaper This Day.

The company emerged as the second reserve bidder for NITEL and its mobile arm M-Tel during an attempt to part-privatise the telecoms operator in early 2010, but the sale process stalled after the preferred buyer New Generation Telecommunications and subsequently the reserve bidder Omen International failed to meet payment deadlines. In March 2012 the government approved the adoption of a guided liquidation strategy for NITEL and M-Tel, with Olutola Senbore appointed as liquidator in July 2013. Wood says that Brymedia is interested in acquiring key assets of NITEL, including the company’s wide ‘spectrum portfolio’ and GSM towers.

Meanwhile, the report adds that Brymedia is also interested in participating in the upcoming auction of a national spectrum licence in the 2.3GHz frequency band, scheduled to begin towards the end of the month. The Nigerian Communications Commission (NCC) plans to award one lot of 30MHz spectrum in the 2.3GHz band for the provision of wholesale wireless broadband access services to internet service providers (ISPs) and other retail telecoms service providers, which in turn will offer retail high speed internet access services to consumers.