Despite Growth Market Nitel Will Struggle To Attract Investors

On June 1, the government of Nigeria retook control of the country's former telecommunications monopoly Nitel after it extended the deadline for bids for a majority stake for Nitel and its mobile arm Mtel to May 30 2009. The bidding process had been on and off for many months and the extension raised concerns, which now look to be spot on, that an eligible bidder is yet to come forward.

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