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China’s Unicom bids for Nigerian telecom firm

China’s Unicom bids for Nigerian telecom firm
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First Published: Wed, Feb 17 2010. 11 10 PM IST
Updated: Wed, Feb 17 2010. 11 10 PM IST
Abuja: China Unicom (Hong Kong) Ltd and its bidding partners may buy 75% of Nigerian Telecommunications Ltd for $2.5 billion (Rs11,600 crore) to enter the fastest growing phone market in Africa.
New Generation Telecom Ltd, the group made up of Unicom, Minerva Group and GiCell Wireless Ltd, was selected as the preferred bidder for the state-owned phone company. Unicom, is China’s second biggest mobile phone company.
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First Published: Wed, Feb 17 2010. 11 10 PM IST