LONDON—The London-based Investors International consortium has been named the preferred bidder for a 51-percent stake in Nigeria’s state-run Nitel. The consortium is backed by Portugal Telecom, Nortel and KPN.
According to government officials, the consortium put in a bid of US$1.3 billion for the stake in Nitel. Once the stake sale is finalized, it is expected that Portugal Telecom will become Nitel’s operator, while KPN will act as a consultant and will take responsibility for all human resource issues.
