HemHay Creations

HemHay Creations
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Thursday, December 03, 2015

Under-valuation: Reps To Probe Sale Of NITEL, MTEL At $242m



The House of Representatives on Thursday ordered a comprehensive investigation into the liquidation and takeover of the Nigerian Telecommunications Limited (NITEL) and and Mobile Telecommunications (MTEL) by a consortium called NATCOM for the sum of $242.3 million.
Lawmakers expressed worry about the processes leading to the sales, particularly about the alleged under-valuation of the companies prior to their sales, among other concerns.

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